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India imposes curbs on basmati rice exports; contracts with value below $1200 a ton temporarily halted: Govt notification.
Aug 28, 2023
India has imposed curbs on the export of basmati rice, a day after a 20 per cent duty was levied on parboiled rice.
Basmati rice exports contracted at a price lower than $1200 a ton has now been temporarily halted, the ministry said.
The move is meant to check non-basmati exports which are prohibited but being exported in the garb of Basmati, the Ministry of Commerce and Industry said in a notification on Sunday.
'Contracts of Basmati rice below $1200 a ton may be kept in abeyance and may be evaluated by a committee to be set up by the Chairman of APEDA,' said the government notification. The Agricultural and Processed Food Products Export Development Authority (APEDA) is responsible for the regulation of Basmati rice exports.
The MEP would help authorities ensure that non-basmati rice is not exported as basmati rice, said the notification.
India ships out around 4 million metric tons of basmati rice to countries such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates and the United States.
Before the temporary ban on basmati rice, the government imposed a 20 per cent duty on the export of parboiled rice, a move aimed at maintaining adequate local stock and keeping domestic prices under check.
Last month, the government banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season. In September last year, exports of broken rice were prohibited.
economictimes.indiatimes.com
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