date:Apr 11, 2013
Amid a relative slowdown in demand, the authorisation to export the crop from its godowns via private trade was meant to ease Indias critical pressures on storage. The allocation was be done by bidding with a floor price set at Rs14,700 (US$274) per tonne plus 12.5% state taxes.
However, the USDA has argued that this approach will increase the implied export subsidy if the price isnt reduced.
Imposing conditions
This, the department added, would be compounded by the Food Corporation of Indias