India has implemented a series of measures to facilitate the exports of certain farm goods and limit imports of vegetable oils ahead of local elections in two states where farmers form an influential voting bloc. India has removed a floor price for basmati rice exports to help farmers boost overseas sales of the premium grade. India and Pakistan, the only growers of basmati, compete for global market share for the premium rice.
India, the world’s biggest edible oil importer, imposed a 20% basic customs duty on key edible oils, to help protect farmers reeling from lower oilseed prices. Analysts say the moves were aimed at gaining the support of farmers in Maharashtra and Haryana. Maharashtra is a major producer of onions, sugar, and soybeans, while Haryana is a leading grower of basmati rice.
Presentation- Dibyabharati Nayak
