India ban export of non-basmati white rice

India ban export of non-basmati white rice

A Directorate General of Foreign Trade has released its notification regarding banning of the export of non-basmati white rice by Government of India. Government of India has banned the export of non-basmati white rice to ensure the enough quantity for India and to prevent the price of the rice.

Exemption case:

The Government of India has stated that they will allow the consignments of this rice to be exported under certain conditions like in cases where loading of this rice on the ship has commenced before this notification.

Effects of banning:

The Indian government’s ban may affect 80% exporters of India’s rice.

This step of central government will prevent and reduce rice prices within India.

However this ban may impact global prices negatively.

Reasons of higher prices in rice:

Uneven distribution of rainfall in the key rice-growing areas of the country has spiked prices of the grain by up to 20%.

Exported rice from Vietnam hiked to their highest in more than a decade.

The growing supply concerns due to the El Nino weather pattern is one of the adverse effect reason.

India banned overseas shipments of broken rice and imposed a 20% duty on exports of various other grades in September 2022 amid concerns over production.

Due to India rice export prices shoot an over 5-year high on tapering supplies after it was reported that the country was considering banning exports of most rice varieties to curb inflation.

Rice consumption:

Rice is a basic food for about half of the world’s population.

Even the rice is a global consumption product though Asia is consuming about 90% of global supply.

Exports of Rice by India:

India has the highest export volume of rice in the world with around 40% of the share.

As India own for more than 40% of global rice exports, India had exported around 55.4 million metric tons in 2022.

More than 139 countries are net importers of India non-basmati rice such as Bangladesh, Angola, Cameroon, Guinea, Ivory Coast, Kenya, and Nepal.

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