Retail prices of wheat, rice, sugar and edible oils are showing a declining trend after the measures taken by the govt, including curbs on exports of wheat and sugar, says Food Secy Sudhanshu Pandey
India's basmati rice export has been witnessing a decline. It plunged to its lowest in the last four years in 2021. Is Indian basmati losing its shine, or is it a temporary phase?
The official statement released on Saturday said the government plans to allocate 24.4 million tonnes (mt) of wheat and rice for PMGKAY for the next six months starting April 1.
The world's biggest rice exporter is heading for record shipments this year that will help to keep rising food prices in check, according to the United Nations' Food and Agriculture Organization.
India mainly exports non-basmati rice to Bangladesh, Nepal, Benin and Senegal, and basmati rice to Iran, Saudi Arabia and Iraq
The purchases underscore tightening supplies in Asia
The import duty on rice will be lowered to 25% from 62.5%
Exporters, however, are a worried lot as Iran, the top market for Indian basmati, is among the most-affected by the Covid-19 pandemic
India's 5 per cent broken parboiled variety was quoted around $392-$395 per tonne this week, up from $386-$389 last week
The recent harvest mainly served domestic demand and didn't affect export price