Indian Gov't Imposes 20% Export Duty on Parboiled Rice

The Indian federal government has imposed a 20 percent duty on the export of parboiled rice, officials announced on Saturday.

The order was issued by the Ministry of Finance on Friday evening with the aim of curbing price increases while ensuring ample supplies in the domestic market.

According to the notification, the export duty will take immediate effect and will remain applicable until October 16, 2023.

With these new restrictions, India has now imposed limits on all varieties of non-basmati rice, constituting approximately 25 percent of India's total rice exports.

The imposition of a 20 percent duty on the export of parboiled rice is expected to drive global prices higher.

Last month, the International Monetary Fund urged India to remove export restrictions on a specific rice category, stating that it could impact global inflation and exacerbate food price volatility worldwide.