September 28, 2024: In a significant policy shift, the Government of India announced on Saturday the lifting of the ban on non-basmati white rice exports, which had been in place since July 20, 2023. This decision aims to stabilize domestic rice supply while also facilitating international trade.
The Directorate General of Foreign Trade (DGFT) confirmed that the export policy for non-basmati white rice—encompassing semi-milled or wholly milled rice, whether polished or glazed—has been amended from prohibited to free status. However, the government has set a minimum export price (MEP) of $490 per tonne to safeguard domestic interests.
The initial ban was imposed to enhance the availability of rice in the domestic market, a crucial staple for millions of Indians. With the recent lifting of the ban, officials believe that India’s rice export sector will regain momentum and contribute positively to the national economy.
STORY HIGHLIGHTS
India Lifts Ban on Non-Basmati White Rice Exports, Sets Minimum Price Cap
September 28, 2024: In a significant policy shift, the Government of India announced on Saturday the lifting of the ban on non-basmati white rice exports, which had been in place since July 20, 2023. This decision aims to stabilize domestic rice supply while also facilitating international trade.
The Directorate General of Foreign Trade (DGFT) confirmed that the export policy for non-basmati white rice—encompassing semi-milled or wholly milled rice, whether polished or glazed—has been amended from prohibited to free status. However, the government has set a minimum export price (MEP) of $490 per tonne to safeguard domestic interests.
The initial ban was imposed to enhance the availability of rice in the domestic market, a crucial staple for millions of Indians. With the recent lifting of the ban, officials believe that India’s rice export sector will regain momentum and contribute positively to the national economy.