Basmati rice exporters in India are in negotiations with global buyers to secure prices above $1,200 per tonne for new orders. The exporters plan to adjust the prices against future orders once the temporary halt on basmati rice exports is lifted. The Indian government implemented the halt to prevent the illegal shipment of white non-basmati […]
Pay now, adjust later: Rice exporters cook up ways to skirt basmati curbs
The commerce and industry ministry has recommended imposing anti-dumping duty on toughened glass for home appliances imported from China. The duty would range from $41.8 to $243 per metric ton, depending on the thickness and area of the glass. The recommendation was made by the Directorate General of Trade Remedies (DGTR) after finding evidence of […]
India has allowed the export of non-basmati white rice to Bhutan, Mauritius, and Singapore. The Directorate General of Foreign Trade has allocated export quotas for these countries, with 79,000 metric tons to Bhutan, 50,000 tons to Singapore, and 14,000 tons to Mauritius.
Government likely to extend export benefits under RoDTEP scheme for pharma, steel, chemical sectors
2 years ago
“As exports are not doing good for the last few months, there is a demand to extend it for about six months till March 2024. It is under consideration. We may extend it,” the official said. These three sectors were late entrants into the scheme that aims to refund duties, taxes and levies at the […]
India has allocated export quotas of non-basmati white rice to Bhutan, Mauritius, and Singapore. Bhutan will be allowed to export 79,000 metric tonnes, while Singapore and Mauritius will receive quotas of 50,000 tonnes and 14,000 tonnes, respectively.
S Mahalingam has stepped down as Chairman after completing his tenure of two terms as Independent Director, effective 29th August, 2023.
External Affairs Ministry spokesperson Arindam Bagchi said formal orders allowing export of rice to Singapore will be issued shortly. “India and Singapore enjoy a very close strategic partnership, characterised by shared interests, close economic ties and strong people to people connect,” he said.
Commerce and industry minister Piyush Goyal highlighted the challenges faced by the Indian economy, including geopolitical tensions, inflation concerns, and slowing growth. He emphasized the need for focusing on the value, volume, and quality of exports. Goyal stated that India aims to unlock new markets through free trade agreements, collaborations with other countries, and investments […]
India’s decision to impose a 20% duty on exports of parboiled rice has led buyers and sellers to delay shipments to avoid paying the tax. This could lead to depleted inventories and higher local prices in importing countries such as Benin, Ghana, Cote d’Ivoire, and Liberia. Indian exporters have also raised their prices to a […]
Traders of basmati rice are concerned that the enforcement of a minimum export price (MEP) of $1,200/tonne by the Indian government will lead to a decline in sales overseas. The All-India Rice Exporters’ Association (AIREA) has stated that this MEP will act as a deterrent to exports. More than 80% of basmati rice exported was […]