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MEP disrupts basmati rice exports, India fast losing market share

MEP disrupts basmati rice exports, India fast losing market share
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India losing market share for basmati rice

India s global market share in basmati rice is declining due to the government s decision to set a minimum export price of $1,200 per tonne. At a recent food fair in Turkey, no Indian companies received orders for the new basmati crop because of the high price. Global buyers are also delaying payments for orders shipped before the price was set.

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Basmati rice exports fall sharply after MEP fiat | The Financial Express

Basmati rice exports fall sharply after MEP fiat | The Financial Express
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Centre s rice export curbs to hit basmati growers, exporters hard : The Tribune India

Centre s rice export curbs to hit basmati growers, exporters hard : The Tribune India
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Pay now, adjust later: Rice exporters cook up ways to skirt basmati curbs

Basmati rice exporters in India are in negotiations with global buyers to secure prices above $1,200 per tonne for new orders. The exporters plan to adjust the prices against future orders once the temporary halt on basmati rice exports is lifted. The Indian government implemented the halt to prevent the illegal shipment of white non-basmati rice disguised as premium basmati rice. Exporters are resorting to overbilling to maintain their market share against competitors like Pakistan. Gulf nations are major buyers of Indian basmati rice.

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