With the opening of export of white rice, the chances of prices coming down in the domestic market are low.

04-Oct-2024 06:37 PM

New Delhi. There is a huge stock of rice in the central pool and the arrival of Kharif rice has started, due to which the stock is expected to keep increasing in the coming months.

The government has recently liberalized the export policy of rice, due to which its price has started strengthening in the domestic market.

It is known that the government has taken three important decisions regarding rice export in a hurry. First of all, the minimum export price (MAP) of $ 950 per tonne fixed for Basmati rice was abolished.

After this, decisions were taken on non-Basmati rice. Under this, the ban on the export of white (raw) rice was removed and the export duty of 20 percent applicable on Sela rice was reduced to 10 percent.

After this, by issuing another notification, the minimum export price of $ 490 per tonne was fixed for non-Basmati white rice.

Opening the export of white rice will help Indian exporters to regain their lost market. But it is likely to have a psychological effect on the domestic market.

A huge amount of Sela rice is already being exported and if the shipment of white rice increases tremendously, then the prices will naturally remain strong.

According to trade analysts, the price of white rice and Basmati rice is currently a little lower than last year, but soon there may be an atmosphere of rise in it.

The price of Basmati rice is currently running at Rs 3100-3200 per quintal, whereas last year it was Rs 3500 per quintal.

At one time it had come down to Rs 2800-2900. The arrival of Basmati rice is likely to pick up soon, but the exporters are getting a little disturbed by the ongoing war in West Asia.