After 14 months, India has lifted the ban on rice exports, while the export duty of rice has been reduced to 10 percent, which will allow the exporter to export all types of rice other than Basmati.
Earlier in July 2023, the Indian government had banned the export of rice to ensure the supply of rice inside the country and to control the price, but this time the exporters have welcomed the decision to lift the ban on the export of rice, which they called the move as a ‘game changer’.
Suraj Agarotal, the top executive of rice exporting company Rice Villa, said that such a decision of India to lift the ban on export of rice except Basmati will serve as a ‘game changer’ in the agricultural sector.
He said that not only the exporters but also the farmers will benefit, due to this step, the farmers can expect to benefit from paddy cultivation.
In addition to the ban on the export of rice, India has announced a reduction in the export duty on boiled rice from 20 per cent to 10 per cent.
Keshav KR Halder, another rice exporter, called for the immediate withdrawal of the ban, he praised the Indian government's move.
India is the world's largest rice exporter, with 40% of the world's total demand comes from the country. The prices of rice in Thailand and Vietnam have started in the international market since India suspended rice exports last year, which was the highest in the last 15 years.
