Government imposes 20 percent export duty on parched rice, Finance Ministry issues notification

Govt imposes 20 percent export duty on parboiled rice: In order to control the prices in the domestic market and maintain the stock within a specified limit, an export duty of 20 percent was imposed on Parboiled Rice by the Government of India. Is. This export duty will be effective till 16 October 2023.

Aug 26, 2023 - 10:39
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Government imposes 20 percent export duty on parched rice, Finance Ministry issues notification

An export duty of 20 percent has been imposed on the export of Parboiled Rice by the Government of India. This step has been taken by the government to keep sufficient stock domestically and to keep the prices under control.

In the notification issued by the Finance Ministry, it was said that this export duty has been imposed on August 25 and will be applicable till October 16, 2023.

It was informed by the Ministry of Finance that this export duty will give relief to those ripe rice, that have not received LEO (let Export Order) and have reached the ports, as well as letters of credit received before August 25, 2023. Has happened.

After the imposition of this export duty, the export of non-basmati rice from India has been banned in all respects. Non-basmati rice accounts for 25 percent of the total rice exported by India.

Last month, the government banned the export of non-basmati white rice to increase domestic supply and keep retail prices under control. In September last year, the government banned the export of broken rice.

India exported 15.54 lakh tonnes of non-basmati safe rice between April and June of the current financial year, as against only 11.55 lakh tonnes last year. The reason for banning non-basmati white rice was the high cost of food items.

Retail inflation rose to a 15-month high of 7.44 percent in July, as against 4.87 percent in June, mainly due to higher food prices.

Muskan Kumawat Journalist & Writer