India lifts ban on non-basmati white rice exports amid surging inventories
This move comes as the nation, the world's largest rice exporter, sees an increase in rice inventories and prepares for the upcoming harvest season.
The government initially banned the overseas shipment of non-basmati white rice on July 20, 2023, to enhance domestic supply.
However, the directorate general of foreign trade (DGFT) noted in a recent notification that the policy has been amended from «prohibited to free,» provided that the export meets the newly established minimum price.
«The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) ...is amended from prohibited to free, subject to MEP of USD 490 per tonne with immediate effect and until further orders,» stated the DGFT in the notification.
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