TaxTMI 
TaxTMI 
Government removes Floor Price on Basmati Rice
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....overnment removes Floor Price on Basmati Rice <br>News and Press Release<br>Dated:- 14-9-2024<br><BR>In a significant step to boost export of basmati rice, a premier GI variety rice of India, the Gove....
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....rnment of India has decided to remove the floor price on export of basmati rice. In response to ongoing trade concerns and adequate domestic availability of rice, the Government of India has now deci....
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....ded to completely remove the floor price on Basmati Rice exports. The Agricultural and Processed Food Products Export Development Authority (APEDA) will closely monitor export contracts to prevent any....
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.... non-realistic pricing of basmati rice and ensure transparency in export practices. As a background, a floor price of $1,200 per metric ton (MT) was introduced in August 2023 as a temporary measure i....
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....n response to rising domestic rice prices in the wake of tight domestic supply situation of rice and to curb any possible misclassification of non-basmati rice as basmati rice during exports, in view ....
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....of the export prohibition on Non-Basmati White rice. Following representations from trade bodies and stakeholders, the government had then rationalized the floor price to $950 per MT in October, 2023.....
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....<BR> News - Press release - PIB....