Govt extends 20% export tax on parboiled rice until further order

Regulation & Compliances
Market & Price Trends
Published Feb 22, 2024

Tridge summary

The Indian government has extended the 20% export duty on parboiled rice indefinitely beyond its original end date of March 31, in an effort to maintain local stock levels and control domestic prices. Additionally, the duty-free import of yellow peas has been extended beyond the same date, subject to certain conditions. This comes as India's rice production is estimated to have risen to 135.54 million tonnes in the 2022-23 crop year, an increase from 129.47 million tonnes the previous year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The government of India on Wednesday extended the 20 per cent duty on export of parboiled rice beyond March 31.The government in August last year had imposed a 20 per cent duty on the export of parboiled rice, a move aimed at maintaining adequate local stock and keep domestic prices under check. It was later extended till March 31, 2024.In a notification, the finance ministry said the 20 per cent export duty will continue beyond March 31 without an end date.Besides, duty-free import of yellow peas, too, has been extended beyond March 31, subject to the condition that the bill of landing is issued on or before April 30, 2024.India's retail inflation eased to 5.10 per cent on an annual basis as against a four-month high of 5.69 per cent in December, data released by the Ministry of Statistics & Program Implementation showed ...
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