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Govt extends 20% export duty on parboiled rice till March 31 next year

16 Oct 2023 Evaluate

The government has extended 20% export duty on parboiled rice until March 31, 2024. The said export duty was initially implemented on August 25, 2023, with an expiration date of October 16, 2023. In order to ensure adequate availability and keep domestic prices under check, government had imposed 20% export duty. With these curbs, India has now imposed restrictions on all varieties on non-basmati rice. Non-basmati white rice constitutes about 25% of the total rice exported from the country.

In July 2023, the government banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season. Besides, exports of broken rice were prohibited in September of the previous year. In the first quarter of the current fiscal, about 15.54 lakh tonnes of non-basmati white rice was exported against only 11.55 lakh tonnes in the year-ago period.

The ban on exports of non-basmati white rice was imposed due to the rise in prices of the food grain and higher exports. The annual retail inflation was at a three-month low of 5.02% in September. India’s total exports of basmati rice stood at $4.8 billion in 2022-23, while in volume terms it was at 45.6 lakh tonnes. Exports of non-basmati stood at $6.36 billion in the last fiscal. In volume terms, it was 177.9 lakh tonnes. India’s rice production stood at 135.54 million tonnes in the 2022-23 crop year (July-June) from 129.47 million tonnes in the previous year. 


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