Setia - Latest News Update, Information, Photos & Videos on Setia at Lokmat Times

Though Basmati rice exports have also declined 1.5 per cent, but experts don't suggest price as reason behind it.Arvind Kumar Gupta, Director of the Basmati Export Development Institution that comes under the Agricultural and Processed Food Products Export Development Authority (APEDA), told , "Prices of non-Basmati rice are high in the country, which has affected its demand overseas. Exports have declined in the first four months of this financial year (FY20) against the corresponding period of FY19".According to APEDA data, 17,06,891 tonnes of non-Basmati rice were exported in April-July of FY20 against 26,94,827 tonnes in the same period of FY19. The non-Basmati rice exports have declined around 9.88 lakh tonnes or 36.66 per cent.In value terms, it has declined by 36.30 per cent to Rs 48.16 crore over the smape period of FY19. Similarly, Basmati rice exports have declined by 1.42 lakh tonnes to 14.35 lakh tonnes between April and July against the year-ago period.Vijay Setia, Chairman, All India Rice Exporters Association, said due to the high prices of non-Basmati rice its demand had soften in the foreign market. "The paddy is sold on the minimum support price (MSP) decided by the government, which pushes rates compared with other competitive countries".Rise in local production in the importing countries is also the reason behind the falling demand. For instance, demand in Bangladesh has come down because of domestic production, said Setia.India is world's top rice exporter, followed by Thailand and Vietnam. Pakistan also exports rice."Countries, like Bangladesh, have to pay less shipping charges when they import rice from India. Therefore, high-prices don't cost them much. But in the far away African countries, the situation is different. They purchase it from where they find it cheaper," Gupta told .There is a price difference of around $30 per tonne of non-Basmati rice between India and other nations. It meant that the domestic price was $30 per tonne higher, said Gupta.(P.K. Jha can be contacted at pramod.j@.in)( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

SetiaFOLLOW

Setia, Latest News

Business :Three-day VGU Jaipur annual fest 'PANACHE '13 concludes amid fanfare

New Delhi [India], March 24 (/SRV): Scores of cultural events representing unity in diversity in India, a rapturous musical ... ...

National :Siblings die after falling into pit in UP

Gonda (UP), Feb 13 Two minor siblings died and as many children were injured when they fell into ... ...

National :MP: Six more international travellers test COVID-19 positive in Indore, samples sent for genome sequencing

Six more international travellers have tested positive for COVID-19 upon arrival in Madhya Pradesh's Indore, taking the total number of such foreign returnees to 12 in the city since December 1. ...

Business :This festive season will be a boon for people investing in real estate: Rahul Setia, MD Urban Plus

The economic outlook for the year is positive, and the real estate market is on the verge of a speedy revival. As property prices have stabilized now, income levels are rising, interest rates have dropped and property registrations are at an all-time ...

Business :High prices cut non-Basmati rice exports 37%

Rising domestic rice prices have affected exports this year with shipment of the non-Basmati variety falling about 37 per cent or 10 lakh tonnes, over the previous year. ...