India raises rice export price to $425 per tonne

The Indian government has raised export price of rice by $115 per tonne to $425 discouraging the importers.
   While relaxing restriction on rice export, the Indian government in a circular on November 4 said, ‘rice cannot be exported to Bangladesh at price less than 425 dollars per tonne.’
   The circular discouraged the importers. They said import of rice from India at higher price would give stiff rise of price in the market to the discontent of consumers.
   Following relaxation of export ban, Indian traders have been sending large consignments for which L/Cs opened earlier at price $310 to $315 per tonne.
   Some 38,424 tonnes of rice were imported from India through the Benapole land port during the last month (October). Large consignments of rice were reaching the port every day.
   Port officials said customs officials and joint forces at the port were finding it difficult for speedy unloading of rice from large number of Indian trucks. Transportation to different parts of the country also posed a problem in the absence of adequate number of trucks.

Reference: United News of Bangladesh . Benapole