Download Unicorn Signals App

Powered By EquityPandit
INDIA

Govt Lifts Ban on Exports of Organic Non-Basmati Rice

The government on Tuesday lifted restrictions on the export of organic non-basmati rice, including broken rice.

The government has lifted the export ban on organic non-basmati rice, including broken rice, to help facilitate the outbound shipment of the commodity. The government banned broken rice export in early September to boost domestic supply.


India had previously imposed a 20% tariff on non-basmati rice exports to shore up domestic supplies after prices surged in the retail market.


In a notification, the DGFT said exports of organic non-basmati rice, including organic non-basmati broken rice, will now be governed by the rules before the September ban.


Rice exports were worth $5.5 billion in the current fiscal period of April-September. $9.7 billion in 2021-22, according to Commerce Ministry data.


“India exports about 10,000-15,000 tonnes of organic rice (basmati and non-basmati) per year. There is a ban on the export of organic basmati and non-basmati,” said Vijay Setia, former president of the All India Rice Exporters Association.


Ashok K K Meena, managing director of Food Corporation of India (FCI), said on November 23 that the government is regularly monitoring the price situation of essential commodities and taking corrective measures as needed.


“Compared with last month, the retail and wholesale prices of wheat and rice have risen slightly. The retail price of rice has risen slightly, and the price is controllable,” he said.

Get Daily Prediction & Stocks Tips On Your Mobile