India Mulls Lifting Ban On Non-Basmati White Rice Exports Amid Surplus Stock

8/29/2024 2:26:27 PM

(MENAFN- KNN India) New Delhi, Aug 29 (KNN) The Indian government is considering relaxing its year-old export ban on non-basmati white rice due to surplus stock and a significant increase in paddy sowing, according to Pralhad Joshi, Union Minister for Consumer Affairs, Food, and Public Distribution.

The export ban, imposed on July 20, 2023, was initially implemented to ensure adequate domestic supply and to stabilise prices.

Easing the ban could provide a much-needed boost to farmers, traders, and exporters who have been advocating for a relaxation to tap into the strong global demand for Indian rice, reported Mint.

This potential decision would also be welcomed by rice-importing nations that have been urging India to lift the restrictions.

Currently, India allows the export of basmati rice only above a specified floor price, while parboiled rice exports are subject to a 20 per cent duty. Exports of non-basmati and broken rice remain entirely prohibited.

"We all remember the challenges posed by El Niño last year, but despite that, we successfully kept food inflation under control," Joshi said during a Mint event on Tuesday.

"Our paddy and rice production remained strong, even with the anticipated negative impact of the weather phenomenon.

Now, with ample food grain stocks, there is growing demand to permit the export of non-basmati rice, which had been restricted last year due to concerns over El Niño."

Joshi further stated, "We are now evaluating whether to allow such exports, given that the country not only has sufficient stocks to meet domestic needs but also to support the demands of other nations."

(KNN Bureau)

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