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Shares of Chaman Lal Setia Exports Ltd have declined 3.75 per cent in response to recent government regulations that set a minimum export price of $1,200 per tonne of basmati rice.
The company clarifies that these regulations will not significantly impact its exports. Chaman Lal Setia Exports Ltd primarily deals in premium rice, which commands prices exceeding the minimum export price threshold. Additionally, the company exports certain basmati varieties processed as parboiled rice, priced below the $1,200 per mt mark.
The Chairman of APEDA (Agricultural and Processed Food Products Export Development Authority) set up a committee to assess such exports before the Ministry of Commerce approved them.
However, the shares were down by 3.75 per cent at Rs 205.20 at 1.54 pm on the BSE.
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