New Delhi: Export of broken rice banned. Export duty of 20% was also imposed on various grades of rice. The action is to prevent a price rise.
Export restrictions were imposed to increase domestic supply and maintain local prices. The importation of rice has been banned from today.
Exports as per earlier agreements have been relaxed till September 15. A 20 percent export duty has been imposed on rice other than Basmati from today. India, the world’s largest producer of rice, exports rice to more than 150 countries.
This time, India imposed restrictions on rice exports, anticipating that bad weather and lack of monsoon would severely affect paddy cultivation. Pakistan, another major rice producer, has been hit hard by floods and heat waves. It is estimated that this will cause a huge price increase in the international market as well.
