India reduced export duty on paraboiled rice to nil from 10% earlier, the government said in a notification on Tuesday, October 22. The decision comes days after it reduced the duty from 20% to 10% in September end.
At the time, the government also exempted non-basmati white rice from export duty and lowered the export duty on husked and paddy rice to 10%.
At the time, the government also exempted non-basmati white rice from export duty and lowered the export duty on husked and paddy rice to 10%.
India imposed a 20% duty on paraboiled rice exports in 2023 after its crop was impacted by a below-normal rainfall.
India’s rice production is forecast to reach record volumes of 135.5 million-138 million mt in 2024-25 crop year (July-June), as chances for La Nina are expected to gradually rise by August-September, according to a report on S&P Global.
(Edited by : Ajay Vaishnav)
First Published: Oct 22, 2024 11:35 PM IST