India's rice stocks jump on basmati exports floor price cut

KRBL

27/10/2023 05:19

** Shares of Indian rice companies like LT Foods  LTOL.NS ,
KRBL  KRBL.NS , Kohinoor Foods  KOFO.NS , GRM Overseas  GRMO.NS 
and Chaman Lal Setia Exports  CLSE.NS  up between 2.6% and 5.6%
    ** Rise after India cut floor price for basmati rice exports
to $950 per metric ton from $1,200, according to a Reuters
report citing a government source
    ** The reduction will reinstate competitiveness of Indian
basmati rice shipments at the global markets - Atul Garg, GRMO
MD, per the report
    ** KOFO, LTOL, CLSE, KRBL, GRMO have all risen since the
floor price cut likelihood was reported earlier this week

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))