BENGALURU (Reuters) – India’s KRBL reported its fourth straight quarterly profit fall on Wednesday, hurt by slower demand for its basmati rice. KRBL, which makes the ‘India Gate’ brand of basmati rice, said its consolidated net profit fell 55.5% to 865.6 million rupees ($10.4 million) in the quarter ended June. Revenue from operations fell 15.2% […]
Coalition urges withdrawal of herbicide-tolerant basmati rice varieties due to health, environmental risks, and unsustainable farming practices By Our Bureau A coalition of farmers’ organisations and scientists has expressed serious concerns over the recent launch of two herbicide-tolerant (HT) basmati rice varieties by the Indian Council of Agricultural Research (ICAR). They called for the immediate […]
Synopsis In July 2023, the government had prohibited the export of non-basmati white rice but it had said exports would be allowed on the basis of permission granted to other countries to meet their food security needs and based on requests from those countries. New Delhi: The government on Monday allowed the export of 1,000 […]
India’s LT Foods posted a bigger profit for the twelfth consecutive quarter on Thursday, bolstered by strong demand for its basmati rice. The company, which makes ‘Daawat’ and ‘Royal’ basmati rice, said consolidated net profit increased 11.5% to 1.53 billion rupees ($18.3 million) in the April-June quarter. According to official data, India’s basmati rice exports […]
India’s rice export restrictions and policy innovations strive to balance domestic food security needs with its role in global humanitarian efforts. India, the world’s largest producer and exporter of rice, contributes almost 40% to global demand. However, it faces the complex challenge of balancing domestic food security with the benefits of international trade. Factors like […]
Pakistan rice exports, both Basmati and coarse varieties, during July 2020 to May 2021 (11MFY21) are 14 per cent less than that of the previous year. — Reuters/File India is likely to cut the floor price for basmati rice exports and replace the 20 per cent export tax on parboiled rice with a fixed duty […]
The central government has extended the exemption of a particular kind of inspection certificate that was needed for rice exports, both basmati and non-basmati, to certain European nations by another six months. The central government has extended the exemption of a particular kind of inspection certificate that was needed for rice exports, both basmati and […]
According to a new report published by Allied Market Research, titled, “Europe Basmati Rice Market by Type, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2022-2031,” the Europe basmati rice market was valued at $551.8 million in 2020, and is projected to reach $866.5 million by 2031, registering a CAGR of 4.2%. The Indian […]
Cut Basmati minimum export price may be deferred BY BL NEW DELHI BUREAU The committee of ministers headed by Home Minister Amit Shah may decide this week on a proposal to fix a minimum export price (MEP) of $500/tonne on shipments of non-basmati rice, while the proposal to reduce the current MEP of $950/tonne on […]
Exporters said higher MEP could adversely impact the domestic procurement of basmati rice paddy for the next season and hit farmers’ income. Written by Sandip Das In FY24, India exported a record 5.24 million tonne (MT) of aromatic rice valued at $5.83 billion. (Reuters) The government is likely to consider reducing the minimum exports duty […]
