India increases 20 percent customs duty on the export of rice and paddy

Published On: September 10, 2022 12:10 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 10: India has increased the tax rate on the export of paddy and rice and banned the export of broken rice. 

According to the Bloomberg report, India has decided to increase the tax on white and brown rice by 20 percent and ban the export of broken rice. The Association of Nepalese Rice, Oil and Pulses Industry has expressed serious concern over the decision made by the Indian government on Wednesday. 

According to the international media, India has stopped the export of paddy and rice to control its market price due to the decrease in its production and the situation of food crisis around the world.

Due to low rainfall in some states of India, the paddy plantation has decreased by 5.62 percent to 383.99 lakh hectares in the current season. India, the world's second largest rice producer after China, has a 40 percent share in world trade.

India exported 21.2 million ton of rice in 2021-22, of which 3.94 million tons were basmati rice. It exported non-basmati rice worth USD 6.11 billion in the same period, according to official data. The country exported non-basmati rice to more than 150 countries in the FY 2021/22.


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