Govt scraps minimum export duty on Basmati rice to boost farmers' income, exports
The step is expected to enhance India's competitive edge in global Basmati rice market, benefitting both farmers and agricultural economy
PTC Web Desk: The Union Government has announced the removal of the minimum export duty on Basmati rice, a move aimed at benefiting Basmati farmers and increasing rice exports. Union Minister of Agriculture and Farmers Welfare, Shivraj Singh Chouhan, shared the news on X (formerly Twitter) on Saturday. He said the decision would ensure fair prices for Basmati-producing farmers and stimulate export growth.
"The Modi government, sensitive to the welfare of farmers, has decided to remove the minimum export duty on Basmati rice. With this change, Basmati farmers will receive fair prices for their produce, and the rising demand for Basmati rice will further boost exports," Chouhan wrote in his post.
The removal of the export duty is expected to enhance India's competitive edge in the global Basmati rice market, benefitting both farmers and the agricultural economy. With increased demand, Basmati rice exports are likely to see a significant rise, strengthening India's position as a major rice exporter.