From New Delhi Bureau
The Indian Government has banned the export of pulses and non Basmati rice. The steps come on Monday (March 31, 2008) along with other steps to curb rising inflation. It also decided to scrap import duty on crude palm and soya oils.
According to the Deccan Herald “The decisions were taken at a meeting of the Cabinet Committee on Prices at the official residence of the Prime Minister, Dr Manmohan Singh, here on Monday night. The CCP approved ban on export of nonbasmati rice with immediate effect and decided to extend the ban on pulses export for one more year from Monday, the finance minister, Mr P. Chidambaram, told reporters after the meeting that lasted over three hours.”
The government also decided to raise the minimum export price of Basmati rice to $1,200 per tonne from $1,100, to discourage export and increase availability in the domestic market, the report says.
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