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In other major decisions for farmers, the Cabinet approved extension for additional subsidy on di-ammonium phosphate (DAP), and also enhanced the allocation for PM Fasal Bima Yojana.
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The government had on July 20 prohibited export of non-basmati white rice, as food prices galloped in the country
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Though exports of non-basmati white rice were banned on July 20 to boost domestic supply, exports are allowed on the basis of permission granted by the government to other countries to meet their food security needs and on request.
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India must address the rising concern about global food volatility sparked by its ban on the export of non-Basmati rice before it hosts the crucial G20 summit in September.
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India's total rice production during 2021-22 crop year (July-June) is estimated at a record 130.29 million tonnes (111.76 million tonnes in kharif and 18.53 million tonnes in rabi season) as against 124.37 million tonnes in the previous year.
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The comments come amid reports of regulating overseas sale of rice after the government banned wheat exports and capped shipment of sugar at 10 million tonnes in the ongoing 2021-22 marketing year (October-September) as a precautionary step to check local prices.
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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.
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The country is estimated to have contracted exports of 3.5-4 lakh tonnes of non-basmati rice, mostly to Bangladesh and African countries, and shipments are expected to start this month, a top official of rice firm KRBL said today.
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Rice stocks have been up on the charts due to Thursday’s news of India allowing unrestricted exports of wheat and common or non-basmati rice. With this limitless export benefit, KRBL's chairman and managing director Anil Mittal expects to export about 100,000-150,000 tonne rice.
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Government has okayed open licence export of non-basmati rice and also okayed 2 million tonne of wheat export, reports CNBC-TV18.
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The Minimum Export Price (MEP) of three non-basmati rice varieties, Sona Masuri, Ponni Samba and Matta was reduced from USD 850 per tonne to USD 600 per tonne by the government on August 14, 2011.
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EGoM (Empowered Group of Ministers) has cleared 5 lakh tones of additional sugar exports. Also the minimum export price of non-basmati rice has reduced to USD 650 per tone, reports CNBC-TV18.
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State-owned trading firm STC is among the 82 exporters that have been allowed to export 10 lakh tonnes of non-basmati rice at a fixed export price of USD 400 per tonne, the commerce ministry today said.
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Food Minister K V Thomas has requested Finance Minister Pranab Mukherjee to consider hiking the minimum export price (MEP) for non-basmati rice by at least USD 100 a tonne from the current USD 400 a tonne.
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The first-come-first-serve basis registration for export of non-basmati rice will remain open only for two working days starting tomorrow, prompting traders to allege that the move would favour a few.
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The government has allowed export of one million tonnes of non-basmati rice through private trade and fixed the export price at USD 400 per tonne.
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The government today allowed exports of one million tonnes of non-basmati rice, lifting an over three-year old ban, in the wake of overflowing godowns.
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The Food Minister said on Wednesday that he was not opposed to allowing exports of food grains and a decision on the issue will be taken by a panel of ministers at the earliest. According to this new change in policy, exports of non-basmati rice will be allowed upto 100,000 tonne.
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It is learnt that the farm ministry proposes 16% rise in rice buying price. Anil Mittal, CMD, KRBL in an interview with CNBC-TV18, said that the 16% price hike will effect inflation because the rice prices in the inflation factor is already quite high.
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In an interview with CNBC-TV18, Anil Mittal, CMD, KRBL gave his perspective on the ban on non-Basmati rice exports.
