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The government has reduced the floor price for basmati rice exports to $950 per tonne from $1,200 per tonne amid concern that high prices are affecting outward shipments. The basmati crop grown in kharif season has started arriving in the market and the decision to reduce the floor price will boost exports. Earlier, rice exporters associations had been demanded that rate should be brought down to around $850 per tonne. Agricultural and Processed Food Products Export Development Authority (APEDA) has been directed to register only those contracts having value of $950 per tonne and above.
In July this year, government imposed restrictions on exports of non-basmati white rice. A 20% export duty was also slapped on par-boiled non-basmati rice. In late August, the government decided not to allow exports of basmati rice below $1,200 per tonne to restrict possible ‘illegal’ shipment of white non-basmati rice in the garb of premium basmati rice.
Based on representations received from the associations that the high FOB (free on board) value is adversely affecting the export of basmati rice from India, Food and Consumer Affairs Minister Piyush Goyal had attended a consultative meet with the basmati rice exporters. India's total exports of basmati rice stood at $4.8 billion in 2022-23 in terms of price, while in volume terms it was at 45.6 lakh tonne.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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