The government today allowed exports of one million tonnes of non-basmati rice, lifting an over three-year old ban, in the wake of overflowing godowns. The decision was taken by an Empowered Group of Ministers, EGoM headed by Finance Minister Pranab Mukherjee in New Delhi. Sources said, a decision on allowing wheat exports has been deferred. The ban on non-basmati rice was imposed in April 2008 because of high food inflation. Wheat exports have been prohibited since 2007. Sources said, the exports of the staple rice has been allowed as the country's godowns are overflowing with the bumper crop. There is also an acute shortage of storage facilities. Currently, the government godowns are overflowing with over 65 million tonnes of foodgrains, while the storagecapacity is only 62.23 million tonnes. The Agriculture Ministry has pegged total foodgrains output at 245 million tonnes for the 2011-12 crop year, as against 235.88 million tonnes last year.
News On AIR | July 11, 2011 9:06 PM
Govt lifts ban on exports of non-basmati rice