The Indian government announced the immediate lifting of the ban on non-basmati white rice exports on Friday, as detailed in a fresh notification. This decision comes after the ban was initially imposed in July 2023 to secure domestic rice supply and stabilise prices.
Exporters have welcomed the move, characterising it as a "game-changer" for the agricultural industry. Suraj Agarwal, CEO of Rice Villa, emphasized the importance of this decision, stating, "India's bold decision to lift restrictions on non-basmati white rice exports is a game-changer for the agricultural sector."
He further noted that the move is expected to enhance the income of exporters and provide more lucrative returns for farmers as the new kharif crop approaches.
In addition to lifting the ban, the government has also slashed the export duty on parboiled rice from 20 percent to 10 percent, aiming to further invigorate the rice export market.
Keshab Kr Halder, a prominent exporter from Halder Group, expressed his gratitude for the government's prompt action. He had been advocating for the immediate removal of the export ban and praised the recent developments as a positive step for the industry.
The export of non-basmati white rice has been prohibited since July 20, 2023, to increase the availability of rice in the country. Additionally, the government has decided to keep a 20% export tax on parboiled rice in place indefinitely.
(With PTI inputs)