India has lifted the ban on non-basmati white rice exports and set a minimum export price of $490 per tonne. The ban, in place since July 2023, was lifted to address food security needs of various countries. Key export destinations include Kenya, Mozambique, and Cameroon.
India allows non-Basmati rice exports with minimum export cap of $490 per tonne
India has lifted most of its rice export restrictions imposed in 2023, expecting higher crop yields due to above-average monsoon rains. India, which contributed over 40% of global rice exports in 2022, saw a 20% drop in exports due to the restrictions, impacting prices and demand globally.
The government lifted the ban on non-basmati white rice exports, effective immediately, while introducing a minimum export price (MEP) of USD 490 per tonne. This change follows a prohibition since July 20, 2023, aimed at enhancing domestic supply. The policy amendment is issued by the Directorate General of Foreign Trade.
The government has exempted non-basmati white rice from export duty and reduced the levy on parboiled rice to 10 per cent. The export duty on husked and paddy rice has also been lowered to 10 per cent. These changes, effective from September 27, 2024, aim to boost exports and enhance farmers’ income.
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