Export duty on parboiled rice extended
The Indian government has extended the 20% export duty on parboiled rice until March 2024 to ensure adequate domestic supply and prevent excessive exports. Initially set to expire soon, the extension aims to stabilize rice prices ahead of the kharif harvest and upcoming state elections. The export restrictions have been effective in controlling prices, and the government is taking a cautious approach before the general election.
NEW DELHI: Centre on Friday extended the 20% export duty on parboiled rice till end of March 2024, to ensure easy availability and dissuade exporters from shipping out large quantities of the item. The government had imposed the duty in August, which was originally set to expire on Sunday.
Sources said the government would wait for the upcoming harvest of kharif paddy and any decision will be taken considering this factor. They added that the export curbs due to the duty have helped keep prices in check and government doesn’t want to take any risks before the next general election. The decision to extend the duty period comes just ahead of the upcoming state polls in five states.
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