Ban On Rice Exports Lifted Partially (05-Mar-2010)
The government has partially lifted the ban on export of non-basmati rice by allowing its exports to Sri Lanka and Nepal with a ceiling on diplomatic grounds to keep the friendly ties with neighbours.
This move from the government comes after almost nearly two years of the ban on export of non-basmati rice due to the fears of domestic shortage of rice from 2008.
The Directorate General of Foreign Trade (DGFT) issued a notification late on Wednesday, which states that the existing ban on export of non-basmati rice would not be applicable to export of 20,000 tonnes of rice (Ponni Samba) to Sri Lanka through Project Export Corporation (PEC) while another 25,000 tonnes through MMTC form the country with immediate effect.
The PSUs would export the prescribed quantities permitted during kharif marketing season 2009-10.
However, the DGFT laced its limited nod with some riders like the rice to be exported must be 25 per cent of brokens and the exports would be made directly and only by the designated PSUs with no associate exporter.
Moreover, the rice would be procured by PSUs at a price as close to the derived Minimum Support Price (MSP) so as not to disturb the existing price line in the domestic market.
Further, it said that the Ministry of External Affairs (MEA) will advise the recipient country to enter into pacts for the exports only with the designated PSUs and the designation of a private contractor by the importing country to supply rice would not be entertained.
Meanwhile, it is stated that the rice will be procured by the PSUs through tender according to the guidelines by the Department of Commerce and the PSUs will buy rice from the markets all over the country under which the supplier(s) to this effect would provide the requisite certificate to the PSU(s) confirming that rice has been procured.
Top News Today
 In a bid to augment its production capacity to cater to the growing market, domestic biscuit major, Britannia Industries is likely to invest about Rs 100 crore to set up a plant each in Bihar and Orissa.
 Tata Motors, one of the largest automobile companies in India, is planning to come up with an advanced version of Tata Nano, the people’s car, by the year 2012 in India. The cheapest car in the word that
 Mahindra Satyam, the brand identity of Satyam Computer Services has developed an integrated migration solutions for healthcare payer organizations that would meet the new federal and Health Insurance Portability
|
Live Market Discussions With Site Visitors
|
|
Recent Commodity-Market News
|
|