Even as rice prices have risen 11% year-on-year in July, the government has taken several steps in last few months to cool inflation in the key food grain.
The price of Indian rice exports has jumped 9% to a five-year high, following a hike of 7% last month in the price the government pays farmers for new-season common rice.
PB 1121 Basmati rice has become prone to diseases, leading to increased use of chemicals by farmers. But high level of fungicide residue has led EU importers to reject consignments.
Following requests, India would allow exports to Indonesia, Senegal and Gambia in 2023-24. It also approved request from Nepal and allowed exports in current financial year.
On 8 Sept, India banned exports of broken rice & imposed a 20% duty on exports of various grades as it sought to boost domestic supply & calm local prices.
The recent curbs on rice exports could end a decade of price stability as the govt's protectionist move coincides with falling output in other major producers & rising global demand.
High exports driven by demand from China led to shortage in country, where broken rice is used to make ethanol & as cattle feed. Lower & delayed planting likely to hit production too.
Fauja Singh, 114, died after being hit by a speeding car. His death renews questions about India’s deadly roads, rising accidents, and poor traffic discipline.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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