Finally, the government imposed a twenty percent duty on the export of parboiled rice

- Parboiled rice not received by late export order and supported by letter of credit is exempted from export duty

- The Center is making efforts to increase the household supply of food items

Mumbai: The government has finally imposed twenty percent duty on the export of boiled rice. The decision is believed to be part of keeping domestic rice prices under control and maintaining adequate stocks. Two days earlier, the government had announced that there would be no movement on export controls.

Parboiled rice accounts for 33 percent of India's total rice exports. According to the notification issued by the Ministry of Finance, 20 percent export duty will be applicable till October 16 of the current year.

Exporters who have already entered into an agreement will be able to export at zero duty till October 15.

Parboiled rice lying at customs ports which has not received a late export order and is supported by a letter of credit is exempted from export duty.

While India is a major exporter of rice, the decision to impose a tax on the export of parboiled rice is likely to increase the price of rice in the world market.

Rice prices in Asian markets rose to a fifteen-year high after the government banned exports of non-basmati white rice.

With this duty, India has now put restrictions on the export of all types of non-basmati rice in one way or another. During the April to June period of the current year, the country exported 15.54 lakh tonnes of non-basmati white rice as against 11.55 lakh tonnes in the same period last year.

India's total export of non-basmati rice was $6.36 billion in FY 2022-23. In terms of volume, the figure was 177.90 lakh tonnes.

India's overall rice production in the July to June (2022-23) crop year is estimated at 135.54 lakh tonnes.

Keeping in view the increase in the prices of various food items at home, the government has been taking measures for some time now to control the prices.