After the Centre imposed restrictions on the export of the aromatic, long-grain basmati rice, the rice exporters in Punjab have criticised the move, saying the decision has put the rice export sector in disarray and that it would result in huge financial losses.
The Union Commerce Ministry, last week, directed the Agricultural and Processed Food Products Export Development Authority (APEDA), the agency responsible for the regulation of the export of Basmati rice, that contracts for Basmati exports with the value of US $1,200 per metric tonne and above only should be registered for the issue of Registration-cum-Allocation Certificate (RCAC).
Terming the decision a “big shock” to the exporters, the Punjab Rice Millers and Exporters Association has sought an immediate meeting with the Ministry of Commerce and APEDA to deliberate the issue and find an urgent solution.
