Government Imposes Restrictions On Export Of Basmati Rice

1. Government Imposes Restrictions On Export Of Basmati Rice Government Imposes Restrictions On Export Of Basmati Rice The Union Commerce Ministry in India has directed the Agricultural & Processed Food Products Export Development Authority (APEDA) to hold consultations with traders of Basmati rice in order to sensitise them about the issue. Change In Basmati Rice Export Policy Change In Basmati Rice Export Policy The Union government ensured additional safeguards for its export ban on non-Basmati white rice (by misclassifying it as Basmati rice) on August 28 by prohibiting the export of Basmati rice valued at less than $1,200 per metric tonne (MT). The Agricultural & Processed Food Products Export Development Authority (APEDA), the organization in charge of overseeing the export of Basmati rice, was told by the Union Commerce Ministry that only contracts for Basmati exports with a value of $1,200 per metric tonne and above should be registered for the issuance of Registration-cum-Allocation Certificates (RCAC). Additionally, it has requested that contracts worth less than $1,200 per MT be put on hold and evaluated by a committee that will be formed by the chairman of APEDA in order to comprehend price variation and the use of this route for export of non-Basmati white rice.

2. The centre stated, “It has been noted that there has been large variation in the contract price of Basmati rice being exported with lowest contract price at $359 per MT in the backdrop of an average export price of $1214 per MT during August.” The committee has been asked to submit its report within a month, and the ministry has stated that a decision regarding Basmati rice exports at a lower price can be made based on the report. Additionally, the Ministry has instructed the APEDA to consult with traders to raise their awareness of the issue and to work with them to discourage the use of the window for the export of non-Basmati white rice. Export Policies For Rice In India Export Policies For Rice In India As a result of rising domestic rice prices, the export of non-Basmati white rice was banned on July 20, 2023. The Centre had prohibited the export of broken rice as of September 2022. The Centre also imposed a 20% export duty on parboiled non-basmati rice in August 2023. According to reports, these restrictions have reduced the amount of food grains available in many African nations. If you are a rice importer wishing to buy basmati rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com is a Software as a Service platform that facilitates bulk agro-commodities trade across the globe including all varieties of rice. Through tradologie.com interface, buyers can avail the best qualities of agro-commodities such as rice, wheat, pulses, spices and many other commodities at negotiable rates. Sellers on the platform get better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here the transaction-oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.