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- Union cabinet approved MoU on trade of Non-Basmati White Rice between the Ministry of Cooperation of India and the Ministry of Trade of Indonesia.
- This MoU has been signed for trading of one million metric tonnes of non-basmati white rice annually based on production and international prices.
- The duration of the MoU will be four years and will get automatically extended for an additional four years.
- This agreement will be implemented by National Cooperative Exports Limited (NCEL).
- This MoU will help to resolve the issue of the trade imbalance and will strengthen India-Indonesia trade relations.
- NCEL will procure Non-Basmati White Rice (NBWR) from the open market through a transparent tender process and from cooperative societies.
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