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MUMBAI, 28 Sep (Commoditiescontrol): India has lifted its export ban on non-basmati white rice, allowing shipments with immediate effect, subject to a minimum export price (MEP) of $490 per tonne. The ban, initially imposed in July 2023, aimed to curb domestic price inflation but has now been eased as food inflation moderates.
As the world’s largest rice exporter, accounting for over 40% of global rice trade, India’s policy shift is significant for global markets. The government has been gradually removing export restrictions, including the recent removal of MEPs on basmati rice and onions.
India’s food inflation fell to 5.35% in August, down from 9.94% the previous year, with overall inflation at a five-year low of 3.65%. The easing of restrictions reflects the country’s strong food grain reserves, ensuring sufficient domestic supply while supporting international demand.
(By Commoditiescontrol Bureau; +91 98201 30172)
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