New Delhi set a floor price for non-basmati white rice exports of $490 per metric ton, a government order says. / Photo: Reuters
New Delhi set a floor price for non-basmati white rice exports of $490 per metric ton, a government order said. That came a day after the government cut the export tax on white rice to zero. Earlier this month, the government removed a floor price for basmati rice exports to help thousands of farmers who complained about a lack of access to lucrative overseas markets such as Europe, the Middle East and the United States.As the El Nino weather pattern raised the spectre of poor monsoon rains, India imposed various curbs on rice exports last year and extended them into 2024 to keep local prices in check ahead of the April-June national election.