Indian Basmati Rice Exports To Remain Unaffected

According to industry experts, India's basmati rice exports are unlikely to be affected by the imposition of the new minimum export price of $1,100 PMT put in place by the government last week.

Basmati rice is currently around $1,500-$1,700 PMT and is much valued for its aroma. It is sold mostly in the Middle Eastern and European markets. 

India introduced a minimum export price of $1,100 PMT last week on non-basmati to curtail exports and also removed a special incentive given to rice exporters for undertaking such exports.