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Commodity Market, Commodities News Today | The HinduBusinessLine

India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy BALCO deploys AI humanoid agent for real-time training, operations and safety NSE gets MCA approval to launch National Coal Exchange of India Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Iranian crude returns to India after seven years as tankers dock at key ports India's March palm oil imports fall 19% to three-month low Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns Sharp fall in prices hit gold ETF inflows in March India to continue buying Russian crude oil Gold futures drop ₹1,363 to ₹1,52,071/10g India targets 30 lakh PNG connections amid LPG supply concerns Crude oil futures rise on Hormuz disruptions, Saudi attack reports Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% No LPG shortage in country, vessels continuously coming to India via Hormuz: Petroleum Secretary Neeraj Mittal Russia offers sanctioned LNG to energy-hungry Asia at a discount Crude oil futures rise after Israeli attacks on Lebanon West Asia Conflict: Natural gas allocation to fertiliser sector upped to 95% Oil and Gas prices plunge after US and Iran agree to a ceasefire US ceasefire may boost LPG, LNG supplies to India in short term Natural Diamond Council celebrates ‘World Diamond Day’ India set to get first Iranian crude oil cargo in 7 years Crude oil futures crashes 6% to hit lower circuit as US-Iran ceasefire cools tensions Gold rises to near three-week high as Trump pauses attacks on Iran India’s green energy drive faces critical minerals hurdle amid global race Oil plunges, stocks surge as US-Iran ceasefire sparks global market rally Freight surge, logjam hurts egg exports despite strong demand Sugar consumption in April may fall by 2 lakh tonnes on cool weather and LPG scarcity Industry body urges Maharashtra to retain inspector-free fertilizer policy Government amends mining rules to boost critical mineral exploration and self-reliance Silver futures decline ₹1,479 to ₹2.31 lakh/kg as geopolitical risks lift inflation outlook IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu India returns to buying Venezuelan crude to ease supply crunch Crude oil futures hit record ₹10,888/barrel; 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Battle over Basmati rice GI for Madhya Pradesh heats up
Prabhudatta Mishra · 2026-06-26 · via Commodity Market, Commodities News Today | The HinduBusinessLine

The battle over expanding the geographical indication (GI) area for Basmati rice by including the areas in Madhya Pradesh has intensified, with the All India Rice Exporters Association (AIREA) formally opposing any expansion of the notified Basmati-growing region. At its general body meeting held earlier this week at Sonipat in Haryana, the association passed a resolution against including new areas for Basmati GI, a move that directly challenges Madhya Pradesh’s long-standing demand for inclusion in the Basmati map.

The resolution is significant because it reflects growing resistance from the trade to Madhya Pradesh’s claim, which has been opposed by traditional Basmati-producing states led by Haryana and Punjab. Trade sources said even some exporters who had earlier expressed support for MP’s inclusion did not object to the resolution, suggesting a broadening consensus within the export industry against expanding the GI area at this stage.

Some of the Basmati exporters of Punjab and Haryana were vocal and wanted to know how the GI issue all of a sudden has cropped up after so many years, sources said. A leading exporter also said that AIREA should highlight how India has been consistently questioning the expansion of area in Pakistan.

Emotive issue

The issue of including Madhya Pradesh in the GI area is an emotive issue in the State, first raised by Union Agriculture Minister Shivraj Singh Chouhan, when he was chief minister, as the state government had filed a case in GI registry for its inclusion in the geographical area. Under the GI law, as Basmati rice has already received the GI tag, even if farmers grow Basmati varieties outside the demarcated GI area, those cannot be sold as Basmati, making it difficult to get exported.

Congress leader Digvijaya Singh in March threatened to go on a hunger strike if the state’s farmers do not receive the GI benefits for their Basmati rice. But, Chouhan is on the defensive now and not ready to touch the issue. In April, when Chouhan was asked about Singh’s threat on Basmati GI, he declined to comment saying the matter was sub-judice.

Singh met Commerce Minister Piyush Goyal in May and sought his intervention, terming the previous stand of the Agricultural and Processed Food Products Export Development Authority (APEDA) a “mistake and should be corrected now”, sources said. He is also believed to have suggested that an impartial expert committee be set up to revisit the issue and find out what could be done.

Onus on APEDA?

Earlier this week, a senior official of the Commerce Ministry is believed to have held stakeholder consultations with experts and APEDA officials on the issue. Prior to that meeting, APEDA Chairman Abhishek Dev discussed the GI issue with various stakeholders including legal experts.

Kedar Sirohi, the head of farmer cell of Congress party in Madhya Pradesh, who met Dev last week, said that APEDA should first decide what to do as the agri-export promotion body it should not be a party to interest of any particular state. Sirohi, who was also present when Singh met Goyal, said he has taken up the GI issue with scientists of the Indian Council of Agricultural Research (ICAR).

“Since the GI mandate for Basmati rice is with APEDA, it has to decide if it wants inclusion of Madhya Pradesh or not. Once it agrees, a solution can be found when concerned people discuss the issue,” Sirohi said.

Pending with Madras HC

On the other hand, an expert requesting anonymity wondered if India is opposing Pakistan’s move to expand Basmati area at global forum like European Union, how can it “emulate the neighbouring country’s wrong model”. Till any judicial verdict comes, status quo should be maintained, the expert said.

After a prolonged hearing for years, in February 2016, the Chennai-based GI registry issued the GI certificate to APEDA for Basmati rice, under which the recognised area included some districts of Jammu and Kashmir, Himachal Pradesh, Punjab, Haryana, western Uttar Pradesh, Uttarakhand and Delhi. Thereafter the matter went to many courts and finally the Supreme Court referred it to Madras High Court in 2021. Since then, the matter is pending.

businessline on June 16 had reported that two rice exporters’ organisations had urged the Commerce Ministry to reconsider the APEDA’s decision to “arbitrarily” appoint a law firm to handle global cases on basmati geographical indication (GI) and intellectual property rights (IPR). But, APEDA sources had said that the law firm had been engaged after due process of tender by an expert selection panel.

Published on June 26, 2026