India considering export tax on parboiled rice variety: Report
India is considering imposing an export tax on parboiled rice variety, news agency Bloomberg reported on Tuesday, citing sources. The Narendra Modi-led government had last month surprised buyers by imposing a ban on the export of widely consumed non-basmati white rice.
No decision has been made yet and there’s no certainty deliberations will lead to the implementation of duties, the report said.
In a bid to curb inflation within the food basket, the government imposed a 40% levy on the export of onions recently.
India’s inflation has surged to a 15-month high, building urgency for the government to take measures to contain spiraling food prices.
Modi in a speech to the nation on Aug. 15 vowed to fight inflation as he prepares to return to office for a third term in national elections next year.
Ample monsoon rains have accelerated the planting of summer-sown rice in India, according to the latest farm ministry data, after a slow start to the sowing season that began in June.
