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Market News
GI-tagged rice to get HS codes, will boost exports.
Feb 14, 2024
Government is is keen to give new ‘harmonised system (HS)’ codes, a numerical classification mandatory for internationally-traded products, to boost exports of GI-tagged rice varieties such as Gobindobhog (West Bangal), Kala Namak (Uttar Pradesh), and Jeeraphool (Chhattisgarh) and Johra (Assam). Govt is discussing this with stakeholders, sources said.
The move will ensure exports of such rice varieties in case of any ban or restriction on exports of broken or white rice.
At present, there are six HS codes for non-basmati rice and one for basmati rice. There are 28 varieties of rice with GI certification. They are from Kerala, Maharashtra, Odisha, Bihar, Madhya Pradesh and Himachal Pradesh.
Govt has put a ban on export of non-basmati white rice to keep rices in the retail market in check. In the wake of imposition of restriction on rice exports, total shipment in the current fiscal is likely to fall by 50-60 lakh tonnes from 220 lakh tonnes in 2022-23, which was a record.
Meanwhile, the Agricultural and Processed Food Products Export Development Authority (APEDA) arm of the commerce ministry said on Tuesday that it has facilitated around 500 startups in marketing and exporting millet-based value-added products.
It has facilitated a farmer in Punjab to export 14.3 tonnes of millets and its products worth $45,803 to Australia. The shipment includes ready-to-cook millets derived from Kodo, Foxtail, Little, Browntop and Barnyard varieties.
timesofindia.indiatimes.com
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