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Govt. Imposes 20% Export Duty On Parboiled Rice

Parboiled rice exports from India are now subject to a 20% duty placed by the Government in an effort to maintain a sufficient local supply and control rising domestic prices.

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Govt. Imposes 20% Export Duty On Parboiled Rice

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  1. Govt. Imposes 20% Export Duty On Parboiled Rice Govt. Imposes 20% Export Duty On Parboiled Rice Parboiled rice exports from India are now subject to a 20% duty placed by the Government in an effort to maintain a sufficient local supply and control rising domestic prices. The Export Duty The Export Duty According to a notification from the Finance Ministry, the export duty that was put in place on 25th August will remain in effect until 16th October, 2023. Duty exemption would be available on parboiled rice that is currently in customs ports, has not been granted LEO (let export order), and is backed by valid LCs (Letter of Credit) before 25th August, 2023. With these curbs, India has now imposed restrictions on all varieties on non-basmati rice. Non-basmati white rice constitutes about 25% of the total rice exported from the country. India’s Export Policies For Rice India’s Export Policies For Rice The government banned non-basmati white rice exports last month in order to boost domestic supply and keep retail prices under control during the upcoming festive season. Exports of broken rice were prohibited in September of last year. n the April-June period of this fiscal, approximately 15.54 lakh tonnes of non-basmati white rice were exported, compared to 11.55 lakh tonnes the previous year. Non-basmati white rice exports are now prohibited due to rising food grain prices and increasing exports. Annual retail or consumer price inflation reached a 15-month high of 7.44% in July, up from

  2. 4.87% in June, during to a sharp increase in food prices. India imposed a 40% export duty on onions a week ago in order to increase domestic availability. The total value of India's basmati rice exports in 2022–2023 was $4.8 billion, while the volume was 45.6 lakh tonnes. In the previous fiscal, non-basmati exports totaled $6.36 billion. It was 177.9 lakh tonnes in terms of volume. According to data from the agriculture ministry, India's rice production is predicted to have increased from 129.47 million tonnes the year before to 135.54 million tonnes in the crop year 2022–23 (July– June). If you are a rice importer wishing to Buy Parboiled rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com is a Software as a Service platform that facilitates bulk agro-commodities trade across the globe including all varieties of rice. Through Tradologie.com interface, buyers can avail the best qualities of agro-commodities such as rice, wheat, pulses, spices and many other commodities at negotiable rates. Sellers on the platform get better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here The transaction-oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.

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