India allows non-basmati rice exports to another 7 countries; Check details here
In late August, India introduced additional safeguards by way of imposing a minimum floor price on exports of basmati rice so as to prevent exports of non-basmati white rice, which was already under the prohibited category since July.
India has allowed the export of non-basmati white rice in varying quantities to Nepal, Cameroon, Cote d'Ivoire, Republic of Guinea, Malaysia, Philippines, and Seychelles. Notably, the export of non-basmati white rice was prohibited from July 20 to check the domestic prices and ensure domestic food security.
The exports to these countries are permitted through National Cooperative Exports Limited, the Directorate General of Foreign Trade said in its notification on Wednesday.
Earlier, India allowed the export of non-basmati white rice to the UAE and Singapore.
While amending the export policy, DGFT maintained that the export will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their government.
West African country Benin is one of the major importers of non-basmati rice from India. Other destination countries are UAE, Nepal, Bangladesh, China, Cote D' Ivoire, Togo, Senegal, Guinea, Vietnam, Djibouti, Madagascar, Cameroon Somalia, Malaysia, and Liberia.
In late August, India also introduced additional safeguards by way of imposing a minimum floor price on exports of basmati rice so as to prevent exports of non-basmati white rice, which was already under the prohibited category since July.
Last week, the central government extended the 20 per cent export duty on parboiled rice till March 31, 2024, an official notification said. Rice which is partially boiled with husk is called parboiled rice.
Initially, the duty was introduced on August 25, 2023, and was due to remain effective till October 16, 2023, aimed at maintaining adequate domestic availability and checking its price.
India in September 2022 banned the exports of broken rice and imposed a 20 per cent duty on exports of non-Basmati rice, except for parboiled rice amid concerns about low production due to a fall in area under the paddy crop. It later lifted the ban in November.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.