{"id":6981,"date":"2023-08-26T08:34:32","date_gmt":"2023-08-26T08:34:32","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=6981"},"modified":"2023-08-26T08:34:48","modified_gmt":"2023-08-26T08:34:48","slug":"india-expands-curbs-on-rice-exports-with-20-duty-on-parboiled-grade","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/india-expands-curbs-on-rice-exports-with-20-duty-on-parboiled-grade\/","title":{"rendered":"India expands curbs on rice exports with 20% duty on parboiled grade"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cloudfront-us-east-2.images.arcpublishing.com\/reuters\/KTXTQVRBF5KPVFVVTDM2WDXYWI.jpg\" alt=\"Labourers unload rice bags from a supply truck at India's main rice port at Kakinada Anchorage\"\/><\/figure>\n\n\n\n<p>MUMBAI, Aug 25 (Reuters) &#8211; India has imposed a 20% duty on exports of parboiled rice with immediate effect, a move that could further reduce shipments from the world&#8217;s largest exporter and lift global rice prices, which are already trading near their highest levels in 12 years.<\/p>\n\n\n\n<p>Last month, India surprised buyers by\u00a0imposing a ban on exports of widely consumed non-basmati white rice, following a ban on broken rice exports last year.<\/p>\n\n\n\n<p>The ban prompted some buyers to increase purchases of parboiled rice and lifted its prices to record highs, said a Mumbai-based dealer with a global trade house.<\/p>\n\n\n\n<p>&#8220;With this duty, Indian parboiled rice would become as expensive as supplies from Thailand and Pakistan. There is hardly any option for buyers now,&#8221; the dealer said.<\/p>\n\n\n\n<p>India exported 7.4 million tons of parboiled rice in 2022.<\/p>\n\n\n\n<p>In July, the United Nations food agency&#8217;s\u00a0rice price index\u00a0jumped to its highest level in nearly 12 years as prices in key exporting countries jumped on strong demand after India imposed restrictions on the exports.<\/p>\n\n\n\n<p>India accounts for more than 40% of world rice exports, and low inventories with other exporters mean any cut in shipments could inflate food prices already driven up by Russia&#8217;s invasion of Ukraine last year and by erratic weather.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/graphics.reuters.com\/GLOBAL-RICE\/SUPPLIES\/klpyzgykevg\/chart.png\" alt=\"Reuters Graphics\" width=\"840\" height=\"612\"\/><\/figure>\n\n\n\n<p>India has now imposed restrictions on all kinds of non-basmati rice, which poor consumers in Africa and Asia usually prefer, said a New Delhi-based dealer with a global trade house.<\/p>\n\n\n\n<p>Advertisement \u00b7 Scroll to continue<\/p>\n\n\n\n<p>&#8220;Global rice prices had begun to moderate in the last few days after rallying more than 25% due to India&#8217;s restrictions last month. However, prices are expected to rise again,&#8221; the dealer said.<\/p>\n\n\n\n<p>The recent curbs on exports of food commodities demonstrates the sensitivity of the government of Prime Minister Narendra Modi to food inflation ahead of a general election nearly next year.<\/p>\n\n\n\n<p>His administration has extended a ban on wheat exports after curbing rice shipments in September 2022. It also capped sugar exports this year as cane yields dropped.<\/p>\n\n\n\n<p>Reporting by Rajendra Jadhav; Editing by Chris Reese, Tomasz Janowski and Hugh Lawson<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI, Aug 25 (Reuters) &#8211; India has imposed a 20% duty on exports of parboiled rice with immediate effect, a move that could further reduce shipments from the world&#8217;s largest exporter and lift global rice prices, which are already trading near their highest levels in 12 years. Last month, India surprised buyers by\u00a0imposing a ban [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[46,167,160],"class_list":["post-6981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-rice","tag-indian-rice","tag-rice-export"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>India expands curbs on rice exports with 20% duty on parboiled grade - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India expands curbs on rice exports with 20% duty on parboiled grade - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"MUMBAI, Aug 25 (Reuters) &#8211; India has imposed a 20% duty on exports of parboiled rice with immediate effect, a move that could further reduce shipments from the world&#8217;s largest exporter and lift global rice prices, which are already trading near their highest levels in 12 years. 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