Minimum export price for basmati rice irks traders

India will continue to apply a minimum export price of $1,200 per tonne on basmati price to curb overseas shipments, according to a notification on Sunday, but the government is "actively reviewing" the floor price it had set in August based on requests by exporters, an official said.

- Zia Haq

Traders have protested the decision to maintain the floor price beyond October 15, which was first imposed in August to cool domestic prices. Exporters said they were losing markets because of the floor price and consignments from India had become unviable. A top exporters' body called for a halt in overseas shipments.