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India allows export of rice to Singapore
Two days ago, the Centre temporarily stopped the export of any basmati rice consignment that was being sold overseas for less than $1,200 a tonne.
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India has decided to allow export of rice to Singapore to meet the food security requirements of the South East Asian nation.
“India and Singapore enjoy a very close strategic partnership, characterised by shared interests, close economic ties and strong people to people connect", external affairs ministry spokesperson Arindam Bagchi said in response to queries on export of rice to Singapore.
The MEA spokesperson said formal orders in this regard will be issued shortly.
On August 27, the Centre had temporarily stopped the export of any basmati rice consignment that was being sold overseas for less than $1,200 a tonne. On the other hand, shipment contracted above that price threshold will continue to be allowed.
On July 20, the government had banned the exports of non-basmati white rice to boost domestic supply and keep retail prices during check. Non-basmati white rice comprises 25 per cent of total rice exported from India.
To ensure adequate availability of non-basmati white rice in the Indian market and to stem the rise in local prices, the government had amended the export policy from 'Free with export duty of 20%' to 'Prohibited' with immediate effect.
On September 8, last year, the government had imposed an export duty of 20 per cent on non-basmati white rice to lower the price as well as ensure availability in the domestic market.
