Indian White Rice Export Ban Expected to be Lifted Soon ?

New Delhi, June 3, 2024 - The Indian government is likely to lift the ban on the export of white rice soon, according to sources familiar with the matter. The ban, imposed last September to ensure domestic food security amid global supply chain disruptions, is anticipated to be removed in the coming weeks.

India, the world's largest exporter of rice, had banned the export of broken rice and imposed a 20% duty on the export of various grades of rice to bolster domestic supplies and control rising prices. However, with a bumper crop and ample stockpiles, the government is now considering relaxing these restrictions.

"The decision to lift the ban on white rice exports is expected to be taken shortly," said a senior government official, who requested anonymity. "The move is aimed at supporting the country's rice exporters and maintaining India's leading position in the global rice trade."

The potential lifting of the ban comes as a relief for rice exporters, who have been grappling with the challenges posed by the restrictions. It is also expected to help stabilize global rice prices, which have been fluctuating due to supply concerns and geopolitical tensions.

India's rice exports had dropped significantly after the ban, impacting the livelihoods of farmers and exporters alike. The relaxation of the ban is anticipated to revive the country's rice trade and boost its export earnings.

However, the government is expected to maintain a close watch on domestic prices and supplies to ensure food security for its citizens. The decision to lift the ban is likely to be accompanied by measures to safeguard the interests of domestic consumers and maintain a balance between exports and domestic availability.

As the world's leading rice exporter, India's move to lift the ban on white rice exports is eagerly awaited by global traders and importers seeking to secure steady supplies of this staple commodity.