INDIA HALVES EXPORT DUTY ON PARBOILED RICE TO BOOST SHIPMENTS

India on Sept 27 reduced export duty on parboiled rice to 10 per cent from 20 per cent earlier, the government said in a notification, as inventories in the world's biggest exporter of the grain surged and farmers are set to harvest a new crop in the coming weeks.

The reduction in export duty will lower India's export prices, boost shipments, and force competing countries like Thailand, Vietnam, Pakistan, and Myanmar to reduce their prices as well. India had imposed a 20 per cent duty on parboiled rice exports in 2023 after its crop was affected by below-normal rainfall. The government also reduced the export duty on brown rice and husked rice to 10 per cent.

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