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Article: Pak farmers to gain from export duty on Basmati rice.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- May 11, 2008
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Pak farmers to gain from export duty on Basmati rice
Mumbai, May 11 (PTI) -- Imposition of Rs 8,000 export duty per tonne on basmati rice by the Indian government is likely to benefit farmers in Pakistan, a top industry official said.
It is estimated that the export duty on basmati exports will transfer Rs 3,000 crore worth of Indian farm income to Pakistan farmers.
"Lowering MEP does not make fiscal sense as Pakistan MEP on basmati (USD 1,300) would help them to gain the Gulf market," said Anil Mittal, Chairman and Managing Director of KRBL, which sells basmati under the `India Gate' brand.
Last week, the government imposed an export ...