India’s easing of rice exports welcomed in South Africa
South African importers have welcomed India’s decision to ease restrictions on rice exports. The Indian government recently lifted the ban on non-basmati white rice exports, implementing a minimum price of USD 490 per tonne and exempting it from export duty. This move is significant for South Africa, which imports around 10 million tonnes of rice annually.
South African importers have welcomed India’s decision to ease restrictions on rice exports. Last month, the Indian government withdrew a blanket ban on overseas shipments of non-basmati white rice. It imposed a floor price of USD 490 per tonne and exempted the commodity from export duty.
Exports of non-basmati white rice were banned from July 20, 2023, to boost domestic supply.
“It’s welcoming news for all the importers like us, as South Africa imports roughly 10 million tonnes of rice every year. After Thailand and Vietnam, which account for 70 per cent of imports of rice in South Africa, India is the next biggest exporter of rice to South Africa,” said Pranav Thakkar of Dev International, one of the largest importers of Indian products to South Africa.
“This will increase India’s exports and cater for the demands and needs of southern African countries. As soon as the news came in, we already have put in our orders, and containers are on their way,” he added.
Thakkar said the lifting of the ban on exporting short-grain rice and white rice impacted global markets, with prices already beginning to decline.
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