Search Result for : Basmati Rice

The Dollar Business Bureau India is in talks with the EU voicing the concerns of Indian rice exporters on the tightening of regulations on the usage of pesticide in Basmati rice that will impact exports to the region. The European Commission has revised the maximum residue limit (MRL) and brought down the level of fungicide Tricyclazole to 0.01 mg per kg in basmati rice starting next year. “We are discussing the matter with them. Some European countries also use this pesticide,” Commerce Secretary Rita Teaotia told reporters in New Delhi on Tuesday. All India Rice Exporters' Association (AIREA) has said that stricter norms by the European Commission will badly impact the rice exports from India as trade worth more than Rs.1,700 crore could be shifted to Pakistan. The Rice Exporters body has said that the European Commission has ...

The Dollar Business Bureau  India’s widely appreciated basmati rice may face the closed doors of the EU due to the new regulations that EU has imposed on chemical residues, The All India Rice Exporters Association (AIREA) said on Wednesday. A fungicide named tricyclazole which many farmers use to prevent leaf and neck blast in basmati paddy varieties was banned by EU. For sometime EU had allowed a maximum residue limit (MRL) of 1ppm (parts per million) on the basmati rice that was exported to EU. However, it has issued a notification that residues above 0.01 ppm will not be allowed in the basmati imports after Dec 31, 2017.  Speaking to the media, AIREA President, Vijay Setia said it would not only impact their ...

Sneha Gilada Economically tied with high volume trade in crude oil and politically tied with similar interests for stability in the Middle East, especially Afghanistan, India and Iran have traversed a long and tumultuous journey to maintain a healthy trade relationship. In an interview with Hon. Consul General, Hassan Nourian (HN), Consulate General of the Islamic Republic of Iran, Hyderabad; The Dollar Business (TDB) explores current issues in the India-Iran bilateral relationship. Speaking about diverse areas from the ambiguity in payment settlement mechanisms to problems in basmati rice exports, the diplomat lucidly explains the dynamics in India-Iran relations. India-Iran payments settlement issues To ensure smooth trade relations between India and Iran regardless of a series of international and American sanctions imposed against the ...

The Dollar Business Bureau The exports of Basmati rice from India is expected to touch Rs.22,000–Rs.22,500 crore in financial year 2017-18 and the volume to about 4.09 million tonne primarily supported by a growth in average realisations, said the credit rating agency ICRA Ltd in a report on Wednesday. “We expect the export volumes in FY17 to be around 4 million tonne (almost similar to the volumes in FY2016). However, muted average realisations are expected to keep the value of these exports to under Rs.21,000 crore, against Rs.22,718 crore in FY16,” said Deepak Jotwani, Assistant Vice President, ICRA to PTI. “In FY18, the value of exports is likely to grow to Rs 22,000–22,500 crore, with export volumes growing to around 4.09 million tonne and ...

The Dollar Business Bureau  Good news for Indian rice exporters! China has for the first time granted phytosanitary clearances to 14 Indian rice exporters, including Amira Pure Foods, LT Foods and Kohinoor Foods after it had imposed non-tariff barriers on imports of non-basmati rice from India. The other Indian rice exporters who have also received exports approvals from China include Best Foods, DRRK Foods, Ebro India, KRBL, MR Overseas, Nature Bio Foods, Pari India, Sarveshwar Foods, SSA International, Sunstar Overseas and United Exports. In September, a team consisting of 19 Indian rice millers visited China to address their concerns with the relevant Chinese authorities, following which China announced in a recent communication to the Indian government that it has okayed for 14 ...

The Dollar Business Bureau  Amid India’s falling basmati rice imports, now for the last two consecutive fiscals i.e. 2014-15 and 2015-16, the government has permitted outbound shipments of basmati rice through land custom stations on Indo-Nepal border and Indo-Bangladesh. “In addition to the EDI (electronic data interchange) ports, export of basmati rice will now be permitted through land custom stations on Indo-Bangladesh and Indo-Nepal border also subject to registration of quantity with DGFT (Director General of Foreign Trade),” the Ministry of Commerce said in a statement on Monday. The ministry also said the government would not allow exports of basmati rice on the basis of documents against acceptance, unless exports are insured either by ECGC (Export Credit Guarantee Corporation of India), a government-owned ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), India’s leading consumer goods company, said on Friday that it has completed the deal to sellits rice exports division to LT Foods Ltd. “With respect to the sale of rice export business of HUL carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMMC, a group Company of LT Foods India Ltd, the company has now completed the said transaction,” the FMCG major said in a filing to BSE. In another filing, LT Foods Ltd said, “To further enhance the company’s global expansion strategy, the buying of these famous brands of HUL will serve as a significant milestone in the path of LT Foods and support the firm’s position ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), a leading Indian FMCG company, has got the approval of the fair trade regulator Competition Commission of India (CCI), for selling its business of rice exports to LT Foods Ltd. The pact, which was announced in March 2016, permits transfer of HUL’s brands and inventory of Rs.25 crore to Delhi-based LT Foods, which holds the basmati rice brand - Dawat.   In a tweet, the fair trade regulator said that it has given its approval to the “acquisition of HUL’s rice business by LT Foods.” The FMCG major’s decision to sell its rice business is in sync with its strategy to withdraw from non-core operations while continuing to stimulate its growth plan in the core segment ...