New Delhi, Mar 8 (PTI) The government has lifted the export ban on broken rice to promote its shipments. The ban was imposed in September 2022.
'Export policy of broken rice has been amended from prohibited to free with immediate effect,' the Directorate General of Foreign Trade has said in a notification. Exporters have earlier urged the government to permit the shipments due to the rise in inventories.
Last year, the government removed the minimum export price (MEP) of USD 490 per tonne on overseas shipments of non-basmati white rice and withdrew a blanket ban on the shipments of this variety.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
These measures came at a time when the country has ample rice stock at government godowns and retail prices are also under control. The export restriction was imposed as the Russia-Ukraine war had disrupted the foodgrain supply chain.
Though there was a ban on exports, the government allowed the shipments to friendly and needy countries on a request basis. In 2023-24, India exported broken rice worth USD 194.58 million to countries like Gambia, Benin, Senegal and Indonesia. It was USD 983.46 million in 2022-23 and USD 1.13 billion in 2021-22.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.