12:06 - 21.07.2023
July 21, Fineko/abc.az. The authorities of India, which accounts for 40% of the world's rice exports, have banned the export of refined varieties of this crop, with the exception of basmati, ABC.AZ reports, referring to the Indian Ministry of Consumer Affairs & Food Distribution.
According to the ministry, rice varieties prohibited for export account for 25% of Indian exports of this agricultural crop.
"In order to guarantee the availability of the necessary volumes of white rice varieties on the Indian market, excluding basmati, and also to mitigate the increase in prices on the domestic market, the Indian government has amended the norms of export policy for these varieties, changing their category from "free export with a duty of 20%" to "prohibited". The changes come into force immediately," the Ministry said.
As the Ministry reminds, the 20% export duty was imposed last September for the same purpose - to guarantee affordable volumes of rice on the domestic market and to cut prices for it.
