Intra-day, LT Foods gained 9.72 percent, KRBL 7.67 percent and Chaman Lal Setia Exports 5.92 percent.
The government said on Friday that the minimum export price per tonne of basmati rice has been removed from USD 950.
Commerce and Industry Minister Piyush Goyal said that this move will boost exports and increase farmers’ income.
“It has been decided to remove the existing minimum export price (MEP) of USD 950 MT for issuing registration-cum-allocation certificates (RCAC) for export of basmati rice,” according to a communication from the commerce department.
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APEDA (Agricultural and Processed Food Products Export Development Authority) was requested to take immediate steps to implement this decision.
However, he added that APEDA would closely monitor export contracts for any unrealistic prices for basmati exports.
India’s total basmati rice exports in 2022-23 in value terms were USD 4.8 billion, while in volume terms it was 45.6 lakh tonnes.
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