India: Export Duty On Basmati Rice On The Cards

India's central government is considering a proposal to impose an export duty on basmati rice to discourage its export and increase availability in the domestic markets to counter the rising inflation.

India completely banned exports of non-basmati rice last month and also raised the minimum export price of basmati rice to shore up local supplies and control inflation.

Basmati rice makes up around 1% of India's total annual rice production.