Question
The government has reduced the floor price for basmati
rice exports to $950 per tonne from _______ per tonne due to ongoing concerns that higher prices were hurting outward shipments.Solution
The government has reduced the floor price for basmati rice exports to $950 per tonne from $1,200 per tonne amid concerns that higher prices were hurting outward shipments. In FY23, India exported around 17.8 million tonnes of non-basmati rice and 4.6 million tonnes of basmati rice. Of the non-basmati rice exports, around 7.8-8 mt was parboiled rice.
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