Explore Business Standard
Basmati Rice
The Centre lifted the ban on the export of non-basmati white rice on Friday with immediate effect, according to a notification. In July 2023, the government imposed the ban to ensure the domestic supply of rice and keep prices under control. Exporters hailed the decision, dubbing it a "game-changer" for the sector. "India's bold decision to lift restrictions on non-basmati white rice exports is a game-changer for the agricultural sector," said Rice Villa CEO Suraj Agarwal. "This strategic move will not only boost the income of exporters but also empower farmers, who can expect higher returns with the impending arrival of the new kharif crop," he said. The government has also reduced the export duty on parboiled rice to 10 per cent from 20 per cent, the notification said. Another rice exporter, Keshab Kr Halder of Halder Group who was seeking immediate removal of the ban lauded the government's move.
The government has permitted exports of 30,000 tonne of non-basmati white rice to Tanzania and 80,000 tonne of broken rice to Djibouti and Guinea Bissau. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) has said in a notification. Though exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs on request. Tanzania is an East African nation, while Djibouti is at the northeast coast of the African continent. Guinea-Bissau is a tropical country in West Africa. According to the notification, exports of 30,000 tonne of broken rice are allowed to Djibouti and 50,000 tonne to Guinea Bissau. India has earlier also allowed these exports to countries like Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles. NCEL is a multi-
India's agri export basket is dependent on just five commodities including rice and sugar and this makes the sector vulnerable to fluctuations in global prices and demand, a report by economic think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said these five products -- basmati rice, non-basmati rice, sugar, spices, and oil meals -- account for 51.5 per cent of India's total agriculture exports. Furthermore, India grapples with various domestic challenges including infrastructural deficits, quality control issues, and non-tariff barriers, all of which impede the growth and competitiveness of its agricultural sector, it said. "This makes them (agri exports) vulnerable to fluctuations in global prices and demand," it said, adding these commodities also face frequent export bans in India. At present export of non-basmati rice is currently banned from India and India is also fighting at the WTO (World Trade Organisation) to protect subsidies to rice and wheat
India's agriculture exports this fiscal are expected to reach the last year's level of USD 53 billion despite restrictions imposed on shipments of certain key commodities, including rice, wheat and sugar, according to a senior government official. In 2022-23, the country's agri exports stood at USD 53 billion. "We expect that we would reach that level in spite of USD 4.5 billion-USD 5 billion impact due to the restrictions," Additional Secretary in the commerce ministry Rajesh Agrawal told reporters here on Thursday. The government has prohibited exports of wheat and non-basmati white rice and has imposed curbs on sugar exports. He said the government is promoting exports of new products like bananas and value-added millet products to new global destinations. "In the next three years, we are hoping to increase banana exports to USD 1 billion," he said. Exports of fruits and vegetables, cereals, meat, dairy and poultry products registered a healthy growth rate during ...