Government allows exports of more non-basmati rice and sugar

The government on Tuesday decided to allow the export of more sugar and non-basmati rice, and lower the floor price of basmati exports to boost farm trade. The panel of Empowered Group of Ministers (EGoM) on food agreed to allow export of another one million tonnes of sugar, reduce the minimum export price of basmati by 22%, and raise the limit on non-basmati rice exports from 2.2 million tonnes to 4 million tonnes. All the decisions will be sent to the Election Commission for approval. The proposal to change the floor price for onion exports has been referred to an inter-ministerial group of ministers. "The outlook is positive. We have to take view on all the issues. But we can't say anything before getting the nod from the Election Commission," food and consumer affairs minister K V Thomas said.

Source: Economic Times