• The Union Cabinet has approved the Memorandum of Understanding (MoU) signed by the Union Ministry of Cooperation and the Ministry of Trade of Indonesia.
• India will supply one million metric tonnes of non-basmati white rice to Indonesia per year at the prevalent international price.
• The duration of the MoU will be four years and will be automatically extended for four years.
• Basmati rice is premium rice and in 2023-24 the major export destinations of basmati rice were Saudi Arabia, Iran Iraq, United Arab Emirates, the USA, and Yemen.
• The total export of non-basmati rice in 2023-24 was Rs. 37804.48 Crores or $4570.06 Million. The major export markets were Benin, Guinea, Togo, Cote D Ivoire, and Vietnam.

Date: Current Affairs - 04-01-2025
Category: National

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