Global Rice News

India Extends Basmati Rice Export Floor Price

India, the world’s largest exporter of grains, has announced on Saturday that it will continue to enforce the floor price for basmati rice exports until further notice, according to a government order. This announcement follows a similar order in August, where a minimum export price (MEP) of $1,200 per ton was imposed on basmati rice shipments to mitigate soaring local prices in the lead-up to crucial state elections.

This continued enforcement of the MEP, initially set to expire on Sunday, aims to aid authorities in ensuring non-basmati rice is not misrepresented and sold as basmati. Back in July, the South Asian country had also prohibited exports of non-basmati white rice. Further tightening the regulations, a 20% tax on export of parboiled rice was instituted on Friday.

Rise in Global Rice Trade

In light of these events, many rice exporters and rice suppliers across the globe are keeping a keen eye on the developing situation. Among them, rice exporters from Pakistan, renowned for their high-quality basmati and white broken rice, have been navigating these market adjustments with caution.

Pakistan’s Rice Market Overview

Rice mills in Pakistan, operator of the flourishing rice business in Pakistan, have been following the news closely. As one of the prominent Pakistan rice companies, they trade extensively in different varieties of the grain, including the popular irri 6 rice. Even at this trying time in the grain trade, the rice suppliers in Karachi continue to offer competitive Pakistani rice prices.

For up-to-date basmati rice price list or to explore more about one of the most recognised rice exporters in Pakistan, visit our site. Also discover our basmati rice Pakistan offerings or learn more about the melodious broken rice exporters, a favorite among savvy gastronomes.

This report was made possible by Mayank Bhardwaj and edited by William Mallard.

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