India Lifts Export Restrictions on Non-Basmati White Rice

The Indian government has removed the minimum export price for non-basmati white rice in a move to boost exports. This decision follows an earlier lifting of a ban on such exports. The country has ample rice stocks, and non-basmati rice exports are crucial for the diaspora market.

In a significant policy shift, the Indian government has scrapped the minimum export price (MEP) of USD 490 per tonne for non-basmati white rice, a strategic decision aimed at enhancing the country's rice shipments globally.

This latest directive updates the September 28 action when the government replaced a total export ban with a floor price. The Directorate General of Foreign Trade confirmed the immediate effect of this policy change.

The move comes with ample rice stocks in government reserves and stable retail prices. Despite the previous restrictions, key markets such as the Maldives, Mauritius, UAE, and African countries remained open, highlighting the global demand for this Indian staple.

(With inputs from agencies.)