Govt extends export ban on de-oiled rice bran till March 2024

The Indian government has decided to extend the 20% export tax on parboiled rice beyond March 31, aiming to ensure sufficient local stock and stabilize domestic prices. This measure, initially imposed in August last year and later extended until March 31, 2024, will now continue indefinitely. Additionally, the duty-free import of yellow peas has also been prolonged, provided that the bill of landing is issued on or before April 30, 2024.

New Delhi [India], March 16 (ANI): The central government has extended the ban on exports of de-oiled rice bran by another four months, according to an official notification put out by the Directorate General of Foreign Trade (DGFT) dated March 15. The government had initially banned the export of the commodity derivative in July 2023 […]

Onion prices in the retail trade have fluctuated from ?90 per kg to ?20/kg during the last six months, while the wholesale prices have seen a high of Rs 55/kg and lows of Rs 5/kg during the same period. Shortage in India's last year's rabi crop, followed by erratic monsoon affecting the kharif crop and a robust export demand have been among the top causes for India's onion ongoing problem. During the last few days, the country saw onion prices increase by Rs 5/kg on reports that the central government had decided to lift the export ban, but have again fallen after consumer affairs secretary Rohit Kumar Singh issued a statement that the export ban would continue.

The export policy of broken rice is prohibited; however, export will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their government, DGFT said

Onion prices are likely to stay high for around a month due to limited supplies, while exports remain strong after the removal of a 40% export duty, making overseas shipments more profitable amid global demand. The government introduced a minimum export price (MEP) to discourage exports, imposing $800 per tonne until December 31.

India, a leading rice exporter, is set to prolong restrictions on overseas sales, maintaining the staple grain at its highest price levels since 2008. Despite being a top global shipper, Prime Minister Narendra Modi aims to curb domestic price surges, impacting nations like Benin and Senegal while facing impending reelection. Analysts predict these measures to persist post-elections if domestic rice prices continue rising.

India is planning to extend its free food grains programme by five years, Prime Minister Narendra Modi said on Saturday, as the government tries to shield consumers from rising prices of cereals ahead of a general election early next year.

The Indian government has banned the export of non-basmati white rice in an effort to reduce rising prices caused by an uneven distribution of rainfall in key producing areas. Reports had suggested that India was considering a ban on most rice varieties, a move that it said could affect around 80% of the country's export volumes.

India, the world's second largest onion exporter, had banned shipments of the kitchen staple in December 2023 till March 2024 due to rising domestic prices and potential shortages. This led to a surge in onion prices in neighbouring countries.

Wheat prices have firmed up and the government is considering all options, including a reduction in import duty, to contain the rise, Food Secretary Sanjeev Chopra said on Friday.