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Indian Govt to release foodgrains export policy in next 10 days
Asia Pulse, June 14, 2004
With foodgrain exports accounting for nearly one-third of the Rs 200 billion (US$4.42 billion) agri-exports, the federal government will soon come out with a comprehensive foodgrain export policy.

The policy is virtually ready and it will be finalised after necessary fine tuning by federal Commerce and Industry Minister Kamal Nath who is scheduled to return from UNCTAD meeting in Sao Paulo on June 20, official sources told PTI.

India exported nearly Rs 60 billion worth of foodgrains in 2003-04.

Though state-owned Food Corporation of India (FCI) held much beyond 2.3 million tonnes needed to maintain buffer stocks, the new federal Food and Agriculture Minister Sharad Pawar is averse to releasing foodgrains for exports to ensure the country's food security was in no way jeopardised.

Pawar is keen that exporters should procure foodgrains directly, the sources said adding that there was yet another view that FCI should be allowed to supply excess foodgrains to exporters instead of letting them to rot and in a bid to lower the burden of carrying costs.

Meanwhile, the exporters have been pressing for an early decision on the policy as without a cohesive foodgrain export policy, the country might be pushed back to overstocking.
MGR Archive 14.6.2004
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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