AgriGuru News - Govt Extends 20% Export Tax On Parboiled Rice Until Further Order

The government of India on Wednesday extended the 20 per cent duty on export of parboiled rice beyond March 31.

The government in August last year had imposed a 20 per cent duty on the export of parboiled rice, a move aimed at maintaining adequate local stock and keeping domestic prices under check. It was later extended till March 31, 2024.

In a notification, the finance ministry said the 20 per cent export duty will continue beyond March 31 without an end date.

Besides, the duty-free import of yellow peas, too, has been extended beyond March 31, subject to the condition that the bill of landing is issued on or before April 30, 2024.

India's retail inflation eased to 5.10 per cent on an annual basis as against a four-month high of 5.69 per cent in December, data released by the Ministry of Statistics & Programmed Implementation showed earlier this month.

Prices of all kinds of rice have fallen by up to 10% in the past one month amid increasing supplies in the market and helped by government measures, making the staple food grain more affordable to Indian households.

While non-basmati rice has become cheaper by up to 7%, basmati prices have witnessed a steeper 10% drop. The reduction in the prices of the most widely consumed grain bodes well for the government ahead of the general elections.