The Indian government may reduce rice exports
India may consider prohibiting rice exports after wheat and sugar to ensure sufficient local supplies.
India may consider export limitations on rice after wheat and sugar to safeguard sufficient local supplies and avoid increasing prices. A committee headed by India’s Prime Minister's Office is undertaking a product-by-product analysis of essential products including non-Basmati rice and swift measures are expected if there are any signs of a price increase. An official stated that Inflation is being tackled at the highest level. The price monitoring committee meets on every product and determines the course of action.
The country is the world's second-largest rice producer after China and exported rice to over 150 countries in the year 2021-22. One official also stated that export constraints on 5 products are being considered, of which wheat and sugar have already been included. As per one source, restrictions on rice might be like sugar exports that have been capped at 10 million MTS. Trade inflation strengthened to an 8-year high of 7.79% in April 2022 pressuring the government to pitch in with control measures. These comprised a cut down in excise duty on diesel and petrol, 200 Rupees funding on gas cylinders to Ujjwala beneficiaries, export restrictions on wheat and sugar, and reduction of import duty on raw materials of steel and plastic commodities, and a charge of export duty on iron ore & steel intermediates.
An official stated that many countries now have an inward policy on basic food grain. India wants to safeguard domestic food security, neighbors, and vulnerable countries. Adding that curbs on non-Basmati rice could be considered as it is consumed by almost all the people. India exported $6.115 billion of non-Basmati rice in 2022 and was the top forex earner throughout all agricultural commodities last fiscal year.
Tags: Indian Rice Exporters, White Rice Price, Parboiled Rice Price, Rice Exporters, Rice Importers, Rice Market News, IR36-64 Rice Price, Top 10 Rice Exporters in India, 5 Percent Broken Parboiled Rice, 100 Percent Broken White Rice, 5 Percent Broken White Rice, 25 Percent Broken White Rice, Rice Export, Rice Import, India's Rice Export, Parboiled Swarna Rice, Swarna White Rice, International Exporters, International Importers, Sugar Market News, Sugar Import, India's Sugar Export