New Delhi: The government on Wednesday removed the minimum export price (MEP) of USD 490 per tonne on overseas shipments of non-basmati white rice, a move aimed at promoting shipments of the commodity.
On September 28, the government withdrew a blanket ban on overseas shipments of non-basmati white rice and imposed the floor price.
"The requirement of MEP for the export of non-basmati white rice...has been lifted with immediate effect," the Directorate General of Foreign Trade (DGFT) said in a notification. The government had imposed a ban on exports of non-basmati rice exports on July 20, 2023. These measures came at a time when the country has ample stock of rice at government godowns and retail prices are also under control.
Earlier, the government scrapped the minimum export price for basmati rice to boost outbound shipments and enhance farmers' income.
The country exported non-basmati white rice worth USD 201 million during April-August this fiscal. It was USD 852.52 million in 2023-24. Though there was a ban on the exports, the government was allowing the shipments to friendly nations like Maldives, Mauritius, the UAE and African countries.
This variety of rice is widely consumed in India and it also has demand in global markets, particularly in nations which have large Indian diaspora. The ongoing war between Russia and Ukraine is among the factors that have disrupted the foodgrain supply chain.
