CHENNAI (Commodity Online): On the back of higher production, India to allow additional non-basmati rice exports to ensure Minimum Price Support (MSP) for farmers, according to K. V Thomas, Minister of State for food and civil supplies.
Earlier, India had exported 2.2 million tons of non-basmiti rice.
India is expected to produce 102 million tons during 2011-12 Marketing Year and currently, the rice procurement done by various agencies in India stood at 21.83 million tons as of 2nd February.
Meanwhile, Thailand had earlier raised the Mininum Export Price which made the major importers to turn to India as theIndian are offered in the global market at much lower price than Thai.
India is the one of the largest producer of rice and it accounts for 20% of the total global production.
