Rice – India imposes export restrictions on some varieties – AgFax
Published on: September 26, 2022.
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India, the largest exporter of rice, introduced a policy to limit its exports on September 9. The government has imposed a ban on exports of 100 percent broken rice (HS 100640) and a 20 percent tariff on paddy (100610), brown (100620) and white rice that is neither basmati nor parboiled rice (10063090) .
This is the first restriction India has imposed on its exports since the lifting of a three-year ban on non-basmati rice in 2011. Since then, India has become the main exporter of rice, expanding its dominance so that in 2021 India accounted for 41 percent of total global exports, more than the next 4 exporters (Thailand, Vietnam, Pakistan, and the United States) combined.
India supplies more than half of the world’s broken rice exports, which is discussed in more detail on page 10. As a result of this ban, the forecast for total rice exports has been reduced to 20.3 million tonnes in 2022 and 20.0 million tonnes in 2023.
Indian exports of paddy rice, brown rice, non-basmati rice, uncooked regular white rice (HS 10063090) are now taxed at 20 percent. The largest of these categories is white non-basmati rice, uncooked, which it supplies mainly to Africa and neighboring countries. Especially in the last couple of years, Indian prices have been at a significant discount compared to other major exporters, making it an attractive option for low-income importing countries.
Source: https://industry-update.com/rice-india-imposes-export-restrictions-on-some-varieties-agfax/142329/
