The recently announced next-generation Goods and Services Tax (GST) reforms will significantly benefit India's agriculture sector, particularly the rice industry, Indian Rice Exporters Federation's Vice President, Dev Garg, said.
India's basmati rice exports have received a major push with the Uttar Pradesh government enforcing a fresh ban on the use of eleven pesticides that damage the crop's quality and block its entry into key foreign markets.
The recent imposition of a 25 percent tariff on Indian rice exports to the United States, along with an additional penalty still pending review, has stirred unease among stakeholders in the agricultural export sector. Despite the challenge, industry leaders suggest that India's inherent s
Central government has amended the export policy for non-Basmati white rice, allowing its export under specific conditions with a minimum export price (MEP) of USD 490 per tonne.
The removal of minimum export price (MEP) on basmati rice ahead of the kharif crop will benefit both farmers and exporters, said industry participants. The removal of trade barrier will help Indian exporters regain competitiveness in the overseas markets.
A Maharashtra businessman has lodged a complaint with Delhi Police, seeking an FIR against Benin-based firms STE RISING SARL and SOCIETE AGRIC TECH RICE SARL, along with four Indian agents involved in a fraud amounting to approximately Rs 6.34 crore (USD 758,000) related to rice exports.<
The central government has extended the exemption of a particular kind of inspection certificate for rice exports, both basmati and non-basmati, to certain European nations by another six months.
According to S&P Global Commodity Insights, India, the world's largest rice exporter, implemented export restrictions, including banning broken rice exports and imposing additional duties on non-basmati white rice outflows in August 2022.
The central government has permitted exports of 30,000 tonne of non-basmati white rice to Tanzania, besides 30,000 tonne of broken rice to Djibouti and 50,000 tonne of broken rice to Guinea Bissau.
According to S&P Global Commodity Insights, the Indian government's measures in 2023, including banning non-Basmati white rice exports, imposing a 20 per cent duty on parboiled rice exports, and setting a minimum export price of USD 950/ million tonnes (mt) for Basmati, continue to impac