After more than a year, India lifted the ban on the export of non-basmati white rice with immediate effect and reduced the export duty on parboiled rice to 10% from 20%, PTI reported quoting an official notification.

The ban by one of the world’s largest exporters of rice was imposed in July, 2023 to ensure adequate availability in domestic markets and keep prices under control.

Indian rice exporters welcomed the decision, terming it as a "game-changer" for the sector. “India’s bold decision to lift restrictions on non-basmati white rice exports is a game-changer for the agricultural sector,” said Rice Villa CEO Suraj Agarwal.

“This strategic move will not only boost the income of exporters but also of farmers who can expect higher returns with the impending arrival of the new kharif crop,” he said.

The lifting of the ban was expected as the stocks of the grain in state-owned Food Corporation of India increased and farmers are set to harvest a new crop.

The move comes after the Modi government implemented a series of farm measures in September to boost farmers' incomes ahead of state assembly elections in Haryana and Maharashtra where growers are politically important.

BDST: 1258 HRS, SEPT 28, 2024
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