Cabinet bans export of non-basmati rice

Monday, 31 March 2008, 07:00 Hrs
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New Delhi: The cabinet committee on prices Monday night imposed a complete ban on export of non-basmati rice and fixed the minimum export price for basmati rice at $1,200 per metric tonne.

All edible oils, include crude form of edible oil, will be imported at zero duty custom rate, while the refined form of edible oil will be imported at 7.5 percent customs duty.

The refined oil category includes sunflower, soya bean, coconut and groundnut.

Hydrogenated refined oil will be allowed to be imported at 7.5 percent customs duty, said Finance Minister P. Chidamabaram after the three-hour long meeting chaired by Prime Minister Manmohan Singh.

The ban on the export of pulses will continue for one more year from Tuesday.

The customs duty on butter and ghee was reduced from 40 to 30 percent.

The customs duty on maize has been scrapped from the earlier 15 percent up to 500,00 metric tonnes

All the state governments have been asked to impose stock limit orders on all essential commodities, Chidambaram said. "We restored this power to state government 18 months ago, unfortunately most of the states are not implementing it."

"The onus is on the state governments to ensure that the stock limit orders are properly imposed," he said.

On the prices of steel, he said since Steel Minister Ram Vilas Paswan is away so no decision was taken. "The issue was discussed and efforts are on to bring all steel producers together to find a solution. Till then they should observe restraint. Discussions are going on."

The meeting, which began at 8 p.m., ended at 11 p.m.
Source: IANS
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