Rice Export Bank in India: Food Ministry has taken a big decision regarding rice. To reduce the price of rice, the government has now banned its export.
Government bans export of rice: The government on Thursday banned the export of non-basmati white rice to boost domestic supplies and keep retail prices under check during the upcoming festivals. The Food Ministry said in a statement that there will be no change in the export policy of non-basmati rice and basmati rice. The share of both varieties in the total exports is large. Non-basmati white rice accounts for about 25 percent of the total rice exported from the country.
Which countries are exported to?
The total export of non-basmati white rice from India was $ 4.2 million in the financial year 2022-23, compared to $ 2.62 million in the previous year. Major destinations for India’s non-basmati rice exports include Thailand, Italy, Spain, Sri Lanka and the United States.
The ministry informed that
According to a notification by the Directorate General of Foreign Trade (DGFT), the export policy of non-basmati white rice (semi-milled or fully milled rice, whether polished or not) has been changed from free to restricted. Is. The ministry has said that the export policy of non-basmati rice has been amended to ensure adequate domestic availability at reasonable prices. The move is aimed at ensuring low prices and adequate availability in the upcoming festivals.
Decision taken to cut prices In
Order to ensure adequate availability of non-basmati white rice in the domestic market and to moderate the increase in local prices, the government has amended the export policy with immediate effect to ‘with an export duty of 20 per cent’. From ‘free’ to ‘prohibited’ category.
Rice prices are increasing
The statement said that the domestic prices of rice are increasing. Retail prices have increased by 11.5 percent in a year and three percent in the last month. On September 8, 2022, an export duty of 20 percent was imposed on non-basmati white rice to reduce prices as well as ensure availability in the domestic market.
How much has been exported?
Let us tell you that the export of this variety has increased to 42.12 lakh tonnes in the September-March period of the financial year 2022-23, which was 33.66 lakh tonnes during the September-March period of the previous financial year. In the first quarter of the current financial year, about 15.54 lakh tonnes of rice was exported, which was only 11.55 lakh tonnes in the year-ago period, ie a growth of 35 per cent.
The statement issued
Said that the reason for this sharp increase in exports could be the rise in international prices due to geo-political scenario, El Nino concept and adverse climatic conditions in other rice producing countries etc. The ban on exports of non-basmati white rice will lower prices for consumers in the country. However, there has been no change in the export policy for non-basmati rice (usna rice) and basmati rice, which constitute a major portion of rice exports.
