NEW DELHI: India in now allowing exports of non-basmati white rice as inventories in the world’s biggest exporter of the grain surged and farmers are set to harvest a new crop in the coming weeks.
It set a floor price for non-basmati exports at US$490 per tonne, a government order said last Saturday.
Last Friday it reduced the export duty on parboiled rice to 10% from 20% earlier, a move that will lower its export prices, boost shipments and force competing countries like Thailand, Vietnam, Pakistan, and Myanmar to reduce their prices as well.
India imposed various curbs on rice exports in 2023 and continued them in 2024 to keep local prices in check ahead of the April to June national elections.
The government earlier this month removed a floor price for basmati rice exports to help thousands of farmers who complained about a lack of access to lucrative overseas markets such as Europe, the Middle East and the United States. — Reuters
