Indian rice exporters up on likely floor price cut for basmati rice

KRBL

25/10/2023 05:28

** Shares of rice exporters such as Kohinoor Foods
 KOFO.NS , KRBL  KRBL.NS , LT Foods  LTOL.NS  and Chaman Lal
Setia  CLSE.NS  climb between 3% and 7%
    ** India is expected to cut the floor price or minimum
export price (MEP) for basmati rice exports to $950 per metric
ton from $1,200 a metric ton set in August, Reuters reports
    ** A cut in floor price could boost trade in basmati rice
that was hit after India imposed the $1,200 a metric ton MEP 
    ** If gains hold, KOFO, KRBL and CLSE will likely snap four
straight sessions of losses
    

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))