News

The impact of India's sudden rice export ban

Rice
India
Published Sep 13, 2022

Tridge summary

The Indian government has just banned rice exports, a move that comes after less than four months of banning wheat exports due to a bad crop and dwindling rice stocks.

Original content

Observers see that Prime Minister Narendra Modi's move to restrict rice exports has just been made after concerns about arising situations affecting national food security. India has four main types of rice exports. Of these, only two types of basmati rice and parboiled rice are still allowed to be freely exported. Particularly, the remaining two types, including ordinary rice and broken rice, are banned from export. At the end of last week, the Indian Ministry of Finance announced the imposition of a 20% tax on rice exports, effective from September 9. In crop year 2021-22 (from April last year to March this year), India exported a record 21.21 million tonnes of rice, valued at $9.66 billion. That includes 3.95 tons of basmati rice ($3.54 billion) and 17.26 tons of plain rice ($6.12 billion). After that, the country also exported another 7.43 tons of rice of all kinds (worth 2.76 billion USD). It is expected that export restrictions this time will amount to 9.83 million tons, ...
Source: Agriculture
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