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India bans export of non-Basmati rice

Pallab Bhattacharya, New Delhi
The Indian government banned export of non-Basmati rice and hiked the minimum export price of basmati rice by $100, having implications for Bangladesh.
It also extended the ban on export of pulses by a year and reduced customs duty on butter and ghee to 30 percent from 40 percent and maize to zero percent from 15 percent, subject to a limit of five lakh tonnes.
The Indian government also slashed import duties on crude cdible oil to zero percent to tame the inflation reaching almost seven percent.
The decisions were taken at a marathon meeting of Economic Affairs Committee of the Indian cabinet presided over by Prime Minister Manmohan Singh in New Delhi Monday night.
Briefing reporters after the meeting, Finance Minister Palaniappan Chidambaram said the minimum export price of basmati rice has been further raised to $1,200 per tonne from $1,100 per tonne, thus making it more difficult to export cheap variety of basmati.
The ban on all non basmati rice would bring in an estimated eight lakh tonnes of Pusa-1121 variety into the Indian domestic market. The moves are aimed at softening the prices of basic food items in India and ease supply crunch diverting more grains and pulses into the domestic market
"We sincerely hope the measures will reduce prices," said Chidambaram.
While import duties on crude edible oil--soya, palm and sunflower--have been removed, those on all refined edible oils were reduced to 7.5 percent from 27.5 percent.
Duties on hydrogenerated vegetable oil and fats were also brought down to 7.5 percent. The duty cuts are aimed at higher and cheaper imports which are expected to have trickle-down effect on Indian domestic retail prices of the goods.
The Indian government had earlier banned export of edible oils to tone up their availability in the domestic market and contain the rising prices. India exported 11,630 tonnes of edible oils in 2006-7.
Last month, the government had cut import duties on several varieties of edible oils and milled andnon-milled rice.
The inflation is giving headaches to the Congress Party-1 id United Progressive Alliance government, which faces a series of elections in a number of states by the end of this year and parliamentary polls due early next year.
Meanwhile, the Governor of Reserve Bank of India YV Reddy told reporters in Mumbai Monday that "inflation is unacceptably high and more than anticipated". He said the central bank was ready to take any measure to control inflation.