India may ease restrictions on some rice varieties to prevent a domestic surplus.
India, the world's largest rice exporter, may ease restrictions on some rice varieties to prevent a domestic surplus before the new crop in October. The government is considering a fixed duty on white rice shipments and potentially removing the 20% tax on parboiled rice exports, imposing a fixed levy instead to deter under-invoicing. This move could help lower benchmark Asian rice prices, benefiting rice-dependent countries in West Africa and the Middle East.
July 08, 2024
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