The Indian government has lifted its ban on the export of non-basmati white rice, a move welcomed by traders and exporters. The Ministry of Commerce and Industry issued a notification on Friday announcing the removal of the ban, effective immediately.
The ban, which was initially imposed in July 2023, aimed to ensure sufficient domestic supply and control rising prices of rice. However, with improved supply conditions and the upcoming kharif crop harvest, the government has now relaxed the export restrictions.
Exporters have hailed the decision, calling it a "game-changer" for the agricultural sector. Most of them opined that India's bold decision to lift restrictions on non-basmati white rice exports is a game-changer for the agricultural sector. This strategic move will not only boost the income of exporters but also empower farmers, who can expect higher returns with the impending arrival of the new kharif crop, they felt.
In addition to lifting the export ban, the government has reduced the export duty on parboiled rice from 20 per cent to 10 per cent, further incentivising rice exports and providing relief to the sector.
The decision is expected to enhance India's position as a key player in the global rice market while benefiting both exporters and farmers alike.
