The Directorate General of Foreign Trade (DGFT) removed the $490 a tonne minimum export price on non-basmati white rice with immediate effect. Similarly, the Department of Revenue removed the export duty on par-boiled rice.
The government introduced restrictions on rice exports in 2022. Last month, it removed non-basmati white rice from the prohibited list to free, subject to a minimum export price of $490 a tonne and reduced the export duty on par boiled rice to 10% from 20%
India implemented a floor price and lifted a general prohibition on non-basmati white rice exports to other countries on September 28.
With the two decisions since October 22, the Indian government has removed almost all the barriers to rice exports that had been in force since September 2022. The ban on exports of broken rice remains in place.
These measures came at a time when the public Godowns of the country have ample stock of rice with retail prices remaining stable.
