In a move that could have significant implications for the global rice market, India has announced a 20% duty on exports of parboiled rice, effective immediately. This decision comes amid a series of measures taken by the world’s largest rice exporter to control its rice shipments and manage domestic supply and demand dynamics.
The imposition of this duty follows India’s recent ban on exports of non-basmati white rice, a move that caught many buyers off guard and led to increased interest in parboiled rice. As a result, parboiled rice prices reached record highs, impacting the purchasing decisions of buyers in the market.
The introduction of the 20% duty is likely to further constrain India’s parboiled rice exports and may lead to higher global rice prices. With the duty in place, Indian parboiled rice is expected to be priced competitively with supplies from other major rice-exporting countries like Thailand and Pakistan.
The decision comes at a time when global rice prices are already near their highest levels in over a decade, driven by supply disruptions, increased demand, and trade restrictions in various regions. As India adjusts its export policies, stakeholders in the rice industry will closely monitor how this move influences trade dynamics and prices in the global rice market. Why? We were doing so well too…
