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HomePoliticsCORPORATE POLITICSFarmer Associations Meet Nirmala Sitharaman, Advocate For Removal Of Export Restrictions Ahead...

Farmer Associations Meet Nirmala Sitharaman, Advocate For Removal Of Export Restrictions Ahead Of Union Budget

Driven by soaring retail prices of essential agricultural products like rice, wheat, sugar, and onions, the government implemented stringent measures to curb the upward trajectory

Ahead of the upcoming Union Budget, farmer associations and agricultural experts convened with Union Finance Minister Nirmala Sitharaman on Friday to advocate for the removal of export restrictions on various agricultural commodities. The meeting, held in New Delhi and spanning two hours, aimed to address the concerns raised by the farming community regarding these restrictions.

Union Minister of State for Finance, Pankaj Chaudhary, Finance Secretary, and senior officials from the Ministry of Agriculture were also present during the deliberations. MJ Khan, Chairman of the Indian Chambers of Food and Agriculture, emphasized the urgency of lifting these bans to foster growth in the agricultural sector.

“We don’t have any agriculture policy. The government should start collecting data on the agriculture sector,” Khan remarked during the meeting.

According to the Agricultural and Processed Food Products Export Development Authority (APEDA), there has been a significant 9% decline in exports under its purview. The export bans imposed by the Government of India are aimed at balancing consumer affordability with supporting the agricultural industry amidst rising retail prices.

Driven by soaring retail prices of essential agricultural products like rice, wheat, sugar, and onions, the government implemented stringent measures to curb the upward trajectory. In a pivotal decision in July 2023, exports of all non-basmati white rice were prohibited to mitigate concerns over escalating prices. Additionally, a 20% duty on parboiled rice exports was introduced initially until October 2023, and later extended until March 2024. These interventions were crafted to strike a delicate equilibrium, ensuring affordability for consumers while bolstering the agricultural sector.

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