India extends 20pc export duty on parboiled rice

India has extended the 20 per cent duty on export of parboiled rice by over five months till March 31 next year.

The export duty on parboiled rice was imposed on August 25 till October 16 this year to maintain adequate domestic stock and keep prices under check. The Finance Ministry through a notification extended the duty till March 31, 2024.

India has imposed restrictions on all varieties on non-basmati rice. Non-basmati white rice constitutes about 25 percent of India’s total rice exports.

The exports of broken rice were prohibited in September last year. In April-June period this fiscal, about 15.54 lakh tonnes of non-basmati white rice was exported against 11.55 lakh tonnes in the year-ago period.

The ban on exports of non-basmati white rice was imposed due to the rise in prices of the foodgrain and higher exports.

India’s annual retail or consumer price inflation was at a three-month low of 5.02 percent in September.

India’s exports of non-basmati rice stood at USD 6.36 billion in the last fiscal. In volume terms, it was 177.9 lakh tonnes.

India's rice production is estimated to have risen to 135.54 million tonnes in the 2022-23 crop year (July-June) from 129.47 million tonnes in the previous year, according to the agriculture ministry data.