After India changed its export policy banning exports of non-basmati white rice on July 20, as much as 200,000 tonnes of the rice grain are lying stuck at ports. The rice stock is stuck in the absence of customs clearance before the government’s notification.
Most cargos had obtained customs clearance before the directorate general of foreign trade had put out the notification banning white rice exports on the evening of 20 July. However, as much as 200,000 tonnes of the grain are still lying at ports, including 5,000 tonnes at Syama Prasad Mookerjee Port in Kolkata. “Approximately half-a-million tonnes of cargo should be stuck at the ports, not more than that. The reason being people were aware of an impending change in the rice export policy as prices were shooting up for the last one month, creating inflationary fears,” said Nitin Gupta, senior vice president of Olam Agro India Ltd.
