India continues to impose a 20 percent tariff on rice exports – 2024-02-23 07:14:26

India imposed 20 percent duty on parboiled rice exports till March 31 this year. But this duty rate will continue even after the stipulated period. The country’s central government said the export duty rate will remain in place until further orders.

The Indian government imposed a 20 percent duty on parboiled rice exports in August last year. The decision was taken by the country’s government to increase domestic stocks and keep prices under control, which was implemented till March 31, 2024.

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But India’s finance ministry said in a notification that the 20 percent duty rate on exports will remain in effect indefinitely.

India’s retail inflation eased to 5.10 percent from a four-month high of 5.69 percent in December.

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According to India’s Ministry of Agriculture, rice production increased to 135.54 million tonnes in the 2022-2023 crop year, up from 129.47 million tonnes in the previous year.

Source: The Economic Times

MSM