The government on Friday cut the duty on the export of parboiled rice, which is partially boiled with husk, from 20% to 10% without an end date, the Department of Revenue, an arm of the Ministry of Finance, notified.
The levy was introduced in August last year to maintain adequate local stock and keep domestic prices in check.
The duty on rice in the husk (paddy or rough) was reduced to 10%, husked or brown rice to 10% and nil on semi-milled or wholly milled rice, whether or not polished or glazed other than parboiled and basmati.
India has imposed restrictions on all varieties of non-basmati rice. Non-basmati white rice constitutes about 25% of the total rice exported from the country.
The orders are effective immediately.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
