Government may lift the ban on non-basmati white rice export
India’s potential relaxation of the ban on non-basmati white rice exports, imposed on July 20, 2023, could benefit farmers and exporters amid a surplus. The ban aimed to ensure domestic supply and control prices. Easing the restrictions would address global demand and aid rice-consuming countries. Currently, only basmati rice above a floor price and parboiled rice with a 20% duty are exportable.
It’s almost a year since the government had put a ban on export of non-basmati white rice, but the restrictions may soon be relaxed considering the surplus output of the commodity. The ban, which took effect on 20 July 2023, was put in place to ensure domestic sufficiency of the commodity and control the rise in prices in the domestic market.
A potential easing of the ban would benefit farmers, traders and exporters who have been seeking a relaxation to capitalise on the high global demand for Indian rice. The decision will also bring relief to rice-consuming nations that have been asking the Indian government to ease the ban. Currently, basmati rice can be exported only above a floor price, while parboiled rice attracts a 20% export duty, and non-basmati and broken-rice exports are completely prohibited.
The export restrictions have affected India’s trade arithmetic as well. Rice exports during April-June fell by nearly 34% to 3.2 million tonnes (mt) after the export of non-basmati white rice was restricted last July.
To read more about the news about the Rice News continue reading Agriinsite.com
Source Link : https://www.maritimegateway.com/government-may-lift-the-ban-on-non-basmati-white-rice-export/
