Bad News for Rice Lovers as the Price of Kohinoor Rice is Increase by 10% as Russia Banned Import of Rice from India.
India is the World’s Largest producer of rice and shipped
61,000 tonnes of rice and 3,700 tonnes of peanuts in the last Financial year
and earned USD 31Million by exporting these two items.
This move will make these companies consider the prospect of
exporting rice to Russia at a time when India is looking at boosting exports.
The Russian Federation had imposed the ban due to the
presence of khapra beetles pest in rice and aflatoxin contamination of peanuts.
"Russia has cancelled the temporary restriction on import of rice, rice
cereals and peanuts from India.
Exporters can resume export of these products effective from
September 1," a senior government official told the news agency. Russia
decided to remove restrictions after its officials visited processing units in
India in June’2013. The delegation was convinced about the safety measures that
were put in place here while processing these food items, the official said. India
is the World’s Largest producer of rice and shipped 61,000 tonnes of rice and
3,700 tonnes of peanuts in the last Financial year and earned USD 31Million by
exporting these two items..
Kohinoor Foods is
locked at 10% upper circuit at 14:43 hours IST. There were pending buy orders
of 25,540 shares, with no sellers available. LT Foods rose 0.92% to Rs. 71
while KRBL declined 0.8% to Rs. 24.20.
