Government Lifts Rice Export Controls to Boost Economy

The government has removed restrictions on rice exports, alleviating export duties on non-basmati, parboiled, and husked (brown) rice. The previous floor price of USD 490 per tonne has also been lifted. These measures aim to enhance trade and benefit farmers, amidst sufficient domestic stock and stabilized retail prices.

The government has announced significant changes to rice export regulations, removing the floor price and exempting several rice varieties from export duties. This move comes as the country maintains a strong domestic stockpile, providing room for increased international trade.

Non-basmati white rice is now free from the minimum export price of USD 490 per tonne, and export duties on parboiled and husked (brown) rice have been annulled, effective from October 22. A previous blanket ban on non-basmati exports has also been revisited for specific friendly nation shipments.

These regulatory adjustments align with the government's strategy to boost export revenues and farmer income. The changes are made with careful attention to political neutrality, as clearances were obtained from the Election Commission with the election season approaching in states like Jharkhand and Maharashtra.

(With inputs from agencies.)