20 Percent Export Duty On Parboiled Rice With Immediate Effect
Delhi/Hyderabad, Aug 26 (Maxim News): The Center on Friday imposed a 20 percent export duty on par-boiled rice with immediate effect.
The decision was taken to protect the interest of the local market, however, there are no plans to restrict the export of non-Basmati parboiled rice.
The decision to impose a 20 percent export duty on parboiled rice will make purchasing the commodity expensive for foreign buyers. thus limiting its overseas sales and at the same time boosting its domestic availability. India halted the export of white rice on July 20, sending global prices to a 12-year high as measured by the Food and Agriculture Organisation’s (FAO) rice price index.
The fresh curb on the export of the parboiled variety is likely to accelerate global prices further. Finance Minister Nirmala Sitharaman on Friday said that curbing inflation was a priority area for the government at present. (Maxim News)
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