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Date: 25/10/2024

Govt notifies removal of export tax on parboiled rice

The Centre has announced the reduction of export tax on parboiled rice to zero from the current 10%, a notification said. The decision to remove the tax follows last month’s move to reduce the duty to 10% from 20% to boost exports. In September, the government also gave the go ahead for exports of non-basmati white rice to resume. But New Delhi set a floor price for non-basmati white rice exports at $490 a metric ton. Bigger rice shipments from India would beef up overall global supplies and soften international prices by forcing other major exporters – such as Pakistan, Thailand and Vietnam – to reduce their rates. Duty-free exports of parboiled rice would encourage price-sensitive African buyers to step up purchases from India. India also scrapped the 10% export duty on husked brown rice and rice paddy, as per a report.
 
Source: Exim News Service: New Delhi, Oct. 24



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