NEW DELHI, May 13: Indian rice traders urged the farm minister on Tuesday to ease restrictions on exports, but the government stood its ground, top exporters said.
India, which has levied an export tax on basmati and banned exports of other grades, was formerly the world’s second-largest exporter, supplying about 4 million tonnes a year, including around 1 million tonnes of aromatic basmati.
But in March the government banned exports of all non-basmati rice, raised the floor price for shipments and slapped a tax on overseas sales, contributing to a scramble for grain stocks that has lifted global prices 40 per cent this year.—Reuters
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