India has imposed a 20% export duty on parboiled rice until October 16, 2023, aiming to maintain adequate local stock and control domestic prices. The duty, effective since August 25, applies to parboiled rice exports, with exemptions for rice stored in customs ports without a “let export order” (LEO) and supported by valid Letters of Credit (LCs) before August 25, 2023. This move follows a recent ban on non-basmati white rice exports to ensure sufficient domestic supply and stabilize retail prices. India has now placed restrictions on all non-basmati rice varieties, which make up approximately 25% of the country’s total rice exports.
India Imposes 20% Export Duty on Parboiled Rice to Maintain Local Stock and Control Prices
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