The Food Corporation of India (FCI) offers quality rice at a reserve price of Rs 29 per kg under the OMSS.
Jokowi, as the president is known, said while Indonesia’s headline inflation is low, he remains concerned that food prices and imports would help secure supply.
Prices most recently rallied to that milestone in early August in the wake of sweeping export curbs from top shipper India and as dry weather threatened the Thai crop.
The food based stocks have been looking strong over a past few days. In an exclusive interview with CNBC-TV18, Anil Mittal, Chairman and Managing Director of KRBL, says that he expects the Basmati prices to go further high owing to high demand.