Centre lifts 'minimum export price' on basmati rice, increases duties on edible oils

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Times of India 4h ago

Centre lifts 'minimum export price' on basmati rice, increases duties on edible oils - Times of India

Quick Summary:

The Ministry of Commerce and Industry has lifted the minimum export price for basmati rice to improve farmers' income amid sufficient domestic supply.

The government also increased the basic duty on refined oil to 32.5 percent, aiming to boost demand for mustard, sunflower, and groundnut crops, thereby benefiting farmers and rural employment.

Farmers will receive better prices for these crops, and with the growth of refineries in small and rural areas, employment opportunities will also rise," Chouhan said in the post.