India lifts ban on non-basmati white rice exports amid surging inventories

India lifts ban on non-basmati white rice exports amid surging inventories

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India has lifted its ban on non-basmati white rice exports and introduced a minimum export price of $490 per metric ton, according to a government order issued on Saturday. This move comes as the nation, the world’s largest rice exporter, sees an increase in rice inventories and prepares for the upcoming harvest season.The government initially banned the overseas shipment of non-basmati white rice on July 20, 2023, to enhance domestic supply. However, the directorate general of foreign trade (DGFT) noted in a recent notification that the policy has been amended from “prohibited to free,” provided that the export meets the newly established minimum price.”The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) …is amended from prohibited to free, subject to MEP of USD 490 per tonne with immediate effect and until further orders,” stated the DGFT in the notification.FinanceFinancial Reporting and AnalyticsBy – Dr. C.P. Gupta, Professor: Department of Finance and Business Economics, University of DelhiView Program FinanceA2Z Of Finance: Finance Beginner CourseBy – elearnmarkets, Financial Education by StockEdgeView Program Data ScienceSQL for Data Science along with Data Analytics and Data VisualizationBy – Metla Sudha Sekhar, IT Specialist and DeveloperView Program MarketingDigital marketing – WordPress Website DevelopmentBy – Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expertView Program MarketingDigital Marketing Masterclass by Pam MooreBy – Pam Moore, Digital Transformation and Social Media ExpertView Program Artificial Intelligence(AI)Master in Python Language Quickly Using the ChatGPT Open AIBy – Metla Sudha Sekhar, IT Specialist and DeveloperView Program MarketingModern Marketing Masterclass by Seth GodinBy – Seth Godin, Former dot com Business Executive and Best Selling AuthorView Program FinanceA2Z Of MoneyBy – elearnmarkets, Financial Education by StockEdgeView Program FinanceCorporate Fraud and Forensic ModellingBy – Ankush Lamba, Managing Director- AnkuraView Program Office ProductivityAdvanced Excel Course – Financial Calculations & Excel Made EasyBy – Anirudh Saraf, Founder- Saraf A & Associates, Chartered AccountantView Program LegalData Privacy with General Data Protection Regulation (GDPR)By – Arun S. Prabhu, Partner (Head- Technology and Telecommunications): Cyril Amarchand MangaldasView Program LegalCommercial Contract and Dispute ResolutionBy – Mukul Sharma, Partner- Cyril Amarchand MangaldasView Program MarketingFuture of Marketing & Branding MasterclassBy – Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding ConsultantView Program Artificial Intelligence(AI)Basics of Generative AI : Unveiling Tomorrow’s InnovationsBy – Metla Sudha Sekhar, IT Specialist and DeveloperView Program Artificial Intelligence(AI)AI and Analytics based Business StrategyBy – Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCIView Program Artificial Intelligence(AI)AI for Everyone: Understanding and Applying the Basics on Artificial IntelligenceBy – Ritesh Vajariya, Generative AI ExpertView Program LegalLabour LawsBy – Ankita Ray, Partner: Cyril Amarchand MangaldasView Program FinanceFinancial Literacy i.e Lets Crack the Billionaire CodeBy – CA Rahul Gupta, CA with 10+ years of experience and Accounting EducatorView Program LegalDrafting Commercial Contracts and Dispute ResolutionBy – Shafaq Uraizee Sapre, Managing Partner: Mumbai, Chandhiok and MahajanView Program Office ProductivityZero to Hero in Microsoft Excel: Complete Excel guide 2024By – Metla Sudha Sekhar, IT Specialist and DeveloperView Program The duty cut comes within a fortnight of the government removing the minimum export price on basmati rice. The export duty on these varieties of rice, as well as non-basmati white rice, was 20 per cent so far.These duty changes are effective from September 27, 2024, the notification said.Earlier this month, the government scrapped the minimum export price for basmati rice to boost outbound shipments and enhance farmers’ income.

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