Govt lifts ban on exports of organic broken non-basmati rice | The Financial Express

Govt lifts ban on exports of organic broken non-basmati rice

The ban in September had put a lid on overall non-basmati rice exports, which rose just 4.8% to $3.6 billion until October this fiscal from a year before.

Govt lifts ban on exports of organic broken non-basmati rice
The pace of export growth was as much as 13% until August, just before the ban was slapped. (IE)

The government on Tuesday lifted a ban on exports of organic broken non-basmati rice, as domestic supplies have remained steady and such varieties are barely consumed by the common people.

Exports of broken non-basmati rice, including the organic types, were prohibited in September. Subsequently, the government also imposed a 20% duty on exports of non-basmati rice that isn’t broken. The decisions were part of the government’s broader efforts to curb price pressure in the key grain. Earlier this fiscal, the government had banned wheat exports as well, after production was clipped by warm weather.

Also read: India eyes bumper wheat harvest in 2023 as record prices lead to more sowing

In a notification on Tuesday, the Directorate General of Foreign Trade said the export of organic non-basmati rice, including the broken varieties, will now be governed by rules that were applicable before the ban in September. While organic broken rice exports make up only a tiny slice of the overall outbound shipment of non-basmati rice, they were rising at a fast pace before the prohibition was imposed, according to senior industry executives.

The ban in September had put a lid on overall non-basmati rice exports, which rose just 4.8% to $3.6 billion until October this fiscal from a year before. The pace of export growth was as much as 13% until August, just before the ban was slapped.

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First published on: 30-11-2022 at 04:35 IST