The ban on rice exports may be lifted
To check the low rice production and foodgrain prices in the country, the Indian government last year banned the export of non-Basmati rice. The effect of this ban was seen in Dubai, Kuwait and other Gulf countries as well as the United States. But now the government may soon remove this ban, which may also provide good prices to rice farmers for their crops in the coming days.
In fact, India has received adequate amount of rainfall this year. Due to this, good yield of rice is expected. Moreover, the government also has sufficient stocks of rice. This has removed the concerns related to rice shortage in the country. In such a situation, it is necessary for the government to lift the ban.
Directions received from NITI Aayog
NITI Aayog member Ramesh Chand says the buffer stock situation is good. With sufficient rains, the paddy crop is expected to be better. In such a situation, the government may lift the ban on export of non-basmati rice this year.
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Mint quoted him as saying: “I think there is no need to worry about the rice supply. It is in quite comfortable condition. Even if the government lifts the ban on rice exports at this time, a large amount of rice will not leave the country. This will help keep rice prices low not only domestically but also abroad.”
Additional taxes apply along with the ban.
Currently, export of rice other than Basmati is banned from the country. The government has imposed a 20 per cent duty on the export of usna (parboiled rice). Kharif sowing has increased by 14 per cent this year. This year, paddy was sown in an area of ​​27.7 lakh hectares across the country. Due to this, the crop yield is expected to be good. If the government lifts the ban on rice export, farmers are expected to get better prices for the crop due to increased demand from exporters.
I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
