India reduces export duty on parboiled rice from 20% to 10% to deal with high storage levels.
India has cut the export duty on parboiled rice from 20% to 10% to boost shipments and alleviate storage pressures due to high stock levels. This decision follows a previous increase in August 2023 prompted by poor rainfall. Additionally, export duties on brown and husked rice have also been reduced to 10%, while white rice now has no duty. The government has yet to clarify if private traders can export. India's rice stocks have risen to 32.3 million metric tons, 38.6% higher than last year.
September 27, 2024
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