AgriGuru Online New Update:Duty on Parboiled Rice Removed
23 OCT 2024 | SOURCE News
AgriGuru Online New Update:Duty on Parboiled Rice Removed
Date: October 22, 2024
The Ministry of Finance has enacted a significant policy change by removing the duty on parboiled rice, effective immediately. This strategic decision aligns with amendments to the Government of India’s notification from March 1, 2011, and is designed to bolster the agricultural sector by reducing costs for exporters and domestic suppliers.
Key Highlights:
- Duty Removal: Immediate elimination of duty on parboiled rice to support trade and reduce export costs.
- Price Stability for White Rice:
- India White Rice prices remain stable at $490 per metric ton FOB MEP
- This stability is crucial for maintaining a competitive edge in international markets.
100% Broken Rice by Indian Government only:
- Continues under exclusive government control.
- Ensures quality and effective distribution.
These measures underscore the government’s commitment to enhancing the agricultural economy and providing relief to rice industry stakeholders. By removing the duty on parboiled rice, the government aims to boost exports and strengthen India’s global market position.
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