Global rice prices soared to their highest level in over 15 years following India's decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports.
Rice stocks at the Food Corporation of India on 1 September stood at 32.3 million metric tons, 38.6% higher than last year, encouraging the government to consider export relaxation.
India has been asked basic questions such as why it hasn’t yet notified WTO of the decisions, why adequate notice wasn’t given, how long restrictions will be in place & why they were needed.
State-run Malaysian rice importer Bernas will also be negotiating with other suppliers like Vietnam, Thailand, and Cambodia, Mohamad Sabu told parliament.
Indian Council of Applied Economic Research study says bans on export of wheat & rice were ‘knee-jerk’ reactions. Govt should adjust its trade policy, not sell at prices lower than MSP.
According to an official, Thailand—world's second-largest rice exporter after India—is expected to export over 8 million metric tons of rice this year, up from 7.71 million last year.
The ban will cut availability of rice on world markets by about a fifth, and could lead to importers seeking more govt-to-govt deals to overcome shortages and tame spiraling prices.
According to government reply in Lok Sabha, the pilot phase of PMIS is being used to test concepts, strategies and systems before a full-scale implementation of the scheme.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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