In a regulatory filing, the company asserted that the price limit does not have any "impact on the exports for LT Foods Ltd as the company mostly export premium and aged rice in our own trusted brands i.e. DAAWAT and Royal, the export price of which is mostly over and above the said minimum export price limit."
The weakening of the rupee against the dollar has added to the woes of imported consumer staples like edible oils. Mallick said if the rupee weakens further, then the company will have to look into whether to pass on the increased cost on imported edible oil to customers.
Mutlibagger stock GRM Overseas has entered a new product line of packaged food products in the domestic markets through its subsidiary company GRM Foodkraft.
The weakening of the rupee against the dollar has added to the woes of imported consumer staples like edible oils. Mallick said if the rupee weakens further, then the company will have to look into whether to pass on the increased cost on imported edible oil to customers.
After India banned exports of non-basmati rice to cool local prices, buyers have requested early shipments of basmati rice, according to industry officials. They are fearful that the government may halt basmati exports too. The industry has assured buyers that the government has no plans for a ban but some remain wary.