India To Review Basmati Export Ban

The Indian Agriculture ministry has decided to review bans on exports of wheat and basmati rice, but shipments of other grades of rice is not likely to be relaxed at least until November this year.

According to India's Agricultural minister, Sharad Pawar, a government panel, called the empowered group of ministers (EGOM), would soon consider lifting the ban on wheat exports.

Pawar said rival suppliers might push out India from the international basmati market if exports were not resumed and that would hurt Indian farmers, who would find it difficult to regain their market share.

Rice prices have eased from record highs set in late April on signs that global supplies will improve and expectations that Vietnam will lift export curbs from July.