As the government extends the limitations, the floor price for basmati rice exports will remain

 As the government extends the limitations, the floor price for basmati rice exports will remain

According to a formal decision published on October 14, the government has decided to prolong limitations on the shipments of the extensively eaten food grain, therefore the floor price set on exports of basmati rice will continue to be in effect.

For basmati rice exports, the minimum export price (MEP) or floor price will remain at $1,200 per ton. In August, the MEP was announced against a background of retail food inflation reaching a high of 11.51 percent the month before.

The ban, which aims to manage domestic food costs, comes just before the year's last five-state Assembly elections.

In addition to setting a minimum shipping price, the MEP works to stop non-basmati rice from being exported under the basmati label. In July of this year, India famously prohibited the export of non-basmati white rice.

The government also extended the 20 percent export tariff on parboiled rice until March 2024 through a formal notice that was released on October 13.

It was stated in August that exports of parboiled rice, which is rice that has been partly boiled together with its husk, will be restricted. The administration has opted to prolong the restriction, which was supposed to expire on October 16. 

The Center has been making choices like these in an effort to control domestic rice pricing and supply. Apart from parboiled rice, it had put a 20 percent levy on non-basmati rice exports in September of last year and barred the export of broken rice. However, the prohibition was repealed in November 2022.