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India bans export of broken rice, imposes 20% duty on non-Basmati rice.
Sep 09, 2022
India has banned exports of broken rice and imposed a 20% duty on exports of non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under the paddy crop in the current Kharif season.
Some exports will, though, be allowed till September 15, including for where loading of broken rice on the ship has commenced before this ban order, where the shipping bill is filed and vessels have already berthed or arrived and anchored in Indian ports and their rotation number has been allocated, and where broken rice consignment has been handed over to the customs and is registered in their system.
The ban on exports assumes significance as it appears that the overall sown area under paddy this Kharif season could be lower than that of last year. This can have an impact on both crop prospects as well as prices going forward.
The area under the paddy crop has been down by 5.62 per cent at 383.99 lakh hectares in the ongoing Kharif season so far due to poor rains in some states, as per the latest data released by the agriculture ministry.
India, the world's second-largest rice producer after China, commands a 40 per cent share in the global trade.
The country exported 21.2 million tonnes of rice in the 2021-22 fiscal year, of which 3.94 million tonnes were Basmati rice. It exported non-Basmati rice worth USD 6.11 billion in the same period, as per official data.
The country exported non-Basmati rice to more than 150 countries in 2021-22.
'The new duty is likely to discourage buyers from making purchases from India and prompt them to shift towards rivals Thailand and Vietnam, which have been struggling to increase shipments and raise prices,' Reuters reported.
The duty will affect white and brown rice, which account for more than 60% of India's exports, said B.V. Krishna Rao, president of the All India Rice Exporters Association. 'With this duty, Indian rice shipments will become uncompetitive in the world market. Buyers will shift to Thailand and Vietnam,' Rao said.
India's rice exports touched a record 21.5 million tonnes in 2021, more than the combined shipments of the world's next four biggest exporters of the grain: Thailand, Vietnam, Pakistan and the United States.
India has been cheapest supplier of rice by huge margin and that shielded African countries such as Nigeria, Benin and Cameroon to an extent from a rally in wheat and corn prices, said a Mumbai-based dealer with a global trading firm.
China was the biggest buyer of broken rice, with purchases of 1.1 million tonnes in 2021, while African countries such as Senegal and Djibouti bought brokens for human consumption.
Earlier in May, the Centre amended the export policy of wheat by putting its export under the 'prohibited' category on possible risks to food security.
The government while banning exports of wheat had stated that the move was made with the purpose to manage the overall food security of the country as well as meeting the needs of the neighbouring and other vulnerable countries.
The Indian government did not stop at just restricting exports of wheat.
After a ban on exports of wheat grain, the Centre then put restrictions on the exports of wheat flour (atta) exports and other related products like maida, semolina (rava/sirgi), wholemeal atta and resultant atta.
The ongoing conflict in Ukraine has led to a declining supply and a spike in prices of staple food grain.
Ukraine and Russia are two major suppliers of wheat and its global prices have risen substantially in recent months.
Prices in India too are buoyant and are currently trading above the minimum support price. Multiple rounds of heat waves in several wheat-growing regions in India ahead of the rabi harvest affected some wheat crops.
economictimes.indiatimes.com
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