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India imposes curbs on basmati rice exports; contracts with value below $1200 a ton temporarily halted (economictimes.indiatimes.com)

submitted 1 year ago by mwalimu@baraza.africa to c/worldnews@lemmy.ml

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India has imposed restrictions on the export of basmati rice, following the imposition of a 20% duty on parboiled rice. The government has set a minimum export price of $1,200 per ton for basmati rice shipments. Contracts below this price will be put on hold and evaluated by a committee.

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[-] mwalimu@baraza.africa 2 points 1 year ago

Seems there might be more strains if farm produce is lower than expected. Onions too are under 40% export tax in an attempt to increase domestic supplies.

The present price rise has two aspects to it: first is the shortage in stored produce; the second has to do with lower-than-expected acreage of the bulb itself. Unlike other vegetables such as okra or beans, onions are not grown around the year.