In order to boost the trade, the government has lifted the export ban on broken rice. The ban was imposed in September 2022. Export policy of broken rice has been amended from prohibited to free with immediate effect. Exporters have earlier urged the government to permit the shipments due to the rise in inventories.
Last year, the government removed the minimum export price (MEP) of $490 per tonne on overseas shipments of non-basmati white rice and withdrew a blanket ban on the shipments of this variety. These measures came at a time when the country has ample rice stock at government godowns and retail prices are also under control.
The export restriction was imposed as the Russia-Ukraine war had disrupted the foodgrain supply chain. Though there was a ban on exports, the government allowed the shipments to friendly and needy countries on a request basis. In 2023-24, India exported broken rice worth $194.58 million to countries like Gambia, Benin, Senegal and Indonesia. It was $983.46 million in 2022-23 and $1.13 billion in 2021-22.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: