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In simple language Indian Market price was rs15000/metric tonne it was sold at rs26000, profit of rs11000/metric tonne.
The government of India had banned export of non-basmati rice to put a check on rising prices in the domestic market.
An Empowered Group of Minister on food Pranab Mukherjee had allowed export of up to 20 lakh & 40000 tonnes of non-Basmati rice to Ghana and Sierra Leone under hunger projects.
It was decided that Rice will be sold on humanitarian grounds but in reality Indian private companies (should have been govt of India) sold rice at prevailing international prices to the poor country.
In many cases, the letters of credit come from a third party—a trading company in Switzerland, So exactly who was the buyer and seller and who made the profits.
India is a poor nation we know that here many rich people keep their extra flats on the name of their driver and keeping honesty driver never cheats his boss. Hope now you got the idea who made the profits
The grain for both Ghana and Sierra Leone was sourced from mills in Andhra Pradesh.
