MUMBAI, INDIA — India has set a $1,200-per-tonne minimum export price on basmati rice to help contain local prices, Reuters reported.
In July, the country banned exports of non-basmati white rice and on Aug. 25 imposed a 20% duty on exports of parboiled rice.
After the export ban, some traders were classifying non-basmati white rice as basmati to avoid the export restriction, the government said.
The minimum export price will help ensure that non-basmati rice is not exported as basmati rice, it said.
India ships about 4 million tonnes of basmati rice to countries such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates and the United States.