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Business Daily from THE HINDU group of publications Wednesday, November 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Update at 1415 hrs (IST)
Agri-Business Govt allows 25,000 t rice exports NEW DELHI: Partially easing the ban on export of non-basmati rice, the Government has allowed two export-oriented units from Puducherry and Andhra Pradesh to ship 25,000 tonnes in the current season. In partial relaxation of ban on export of non-basmati rice, the 100 per cent export-oriented unit – Venkatachalapathi Modern Rice of Puducherry and Bharat Exporters in Andhra Pradesh – are allowed to export 12,500 tonnes each, Director-General of Foreign Trade (DGFT) said in a notification here. The DGFT has also prescribed that the non-basmati rice consignment would be allowed subject to the fulfilment of the minimum export price (MEP) of $1,000 a tonne. This means the two companies would have to sell the rice abroad at a price not less than ab out Rs 50,000 a tonne. The export of non-basmati rice allowed to these export-oriented units only during kharif marketing season 2008-09 (October-September) and the quantity exported would be monitored through an appropriate system, it said. – PTI
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