Indian rice exporters fall after govt sets minimum export price for basmati

KRBL

28/08/2023 05:48

(Adds LT Foods' statement; updates shares)
    ** Shares of Indian rice exporters LT Foods  LTOL.NS , KRBL
 KRBL.NS  and Chaman Lal Setia Exports  CLSE.NS  fall between 4%
and 8%
    ** Indian govt imposes $1,200 per ton minimum export price
(MEP) on basmati rice shipments after slapping a 20% duty on
exports of parboiled rice on Friday
    ** LT Foods down as much as 5% at 157.85 rupees
    ** Shares briefly reversed course during the session to
trade 0.4% up after co says MEP won't hurt its exports
    ** KRBL down as much as 4.1% at 383 rupees; on track to fall
for second straight session, if trend holds
    ** Chaman Lal Setia falls as much as 7.5%  


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))