THE BIRYANI SMELLS GREAT...: INDIAN BASMATI EXPORTS FACE TROUBLE
Article Abstract:
Exports of the aromatic Basmati rice from India are more than 6 lakh tonnes, worth Rs1,600 crore, a year. India, a major producer of Basmati rice, is now facing more competition from RiceTec of USA. RiceTec has been selling its aromatic rice under the brand names of Kasmati and Texmati, especially in Europe. The European Union has introduced the Cumulative Recovery Scheme to make imports from India more difficult. The Government of India is yet to pass the Protection of Geographical Indications Bill. This legislation will help the traders register their products for business purposes. To preserve the qualities of Basmati and ensure consistency in supplies, the Government has asked exporters to list the varieties that should be commercially recognised as Basmati. A fund has been set up to do research on the Basmati variety of rice to improve its quality. Pakistan has developed a new Basmati hybrid which rivals the Indian variety. (uh)
Comment:
Exports of the aromatic Basmati rice from India are more than 6 lakh tonnes, worth Rs1,600 crore, a year.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDIAN BASMATI MAY LOSE EU DUTY DRAWBACK
Article Abstract:
The European Union (EU) may soon withdraw its tariff concessions to Indian basmati rice. It has decided to end its commitment to the World Trade Organisation to give a duty drawback to all bulk grains which exceed its own reference price. This move will harm the commercial interests of several developing countries. India, Thailand and Pakistan will get a one-time compensation for the losses. The European Commission has given the reason that the rice stock in the European Union is increasing due to excessive basmati imports which, in turn, are harming the interests of domestic farmers. India, however, is not satisfied with this explanation. It says that the European Union is under pressure from USA, India's biggest rival in the European rice market, which is trying to reduce India's share in the basmati rice markets. (um) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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