Govt to monitor non-basmati rice exports each fortnight
The government will monitor exports of wheat and non-basmati rice every fortnight in order to keep a tab on the quantity being exported, considering the sensitivity of these food items.
September 16, 2011 / 20:15 IST
The government will monitor exports of wheat and non-basmati rice every fortnight in order to keep a tab on the quantity being exported, considering the sensitivity of these food items.
Last week, the government had allowed exports of wheat and non-basmati rice under Open General License (OGL).Although, the notification issued by the Commerce Ministry did not mention about any quantitative restrictions, Food Minister K V Thomas had said that exports of these two commodities would be stopped once shipments reaches 20 lakh tonnes.In a circular, the Central Board of Excise and Customs (CBEC) said: "Considering the sensitivity of the said items, the Board also desires that the export of non-basmati Rice and wheat shall be monitored on fortnightly basis".The CBEC has asked custom officials to furnish fortnightly reports about the quantity and value of exports as well as the name of the exporters and the country where shipments are being made. The first report would be submitted on October 3.Wheat exports have been allowed after more than four years of ban, which was imposed in February 2007. The government had lifted the ban on non-basmati rice in July with a cap of 10 lakh tonnes but shipments were put on hold following the Delhi High Court order.The decision to allow exports was taken on the back of a bumper production of these crops and poor storage in the godowns.Despite good amount of foodgrains this year, the Centre will constantly check the situation to avoid further hike in food inflation which is touching a double-digit mark. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
