India has decided to lift restrictions on the export of non-basmati white rice to specific countries, as indicated in a government notification released on Wednesday.
The countries eligible for these rice exports include Nepal, Cameroon, Malaysia, Philippines, Seychelles, Ivory Coast, and the Republic of Guinea.
This decision follows India’s previous ban on non-basmati white rice exports, which was implemented in July. Additionally, the country later imposed a 20 per cent duty on exports of parboiled rice.
India’s ban on non-basmati white rice exports triggered a sharp rise in global rice prices, with several global bodies and countries urging the nation to lift restrictions in the wake of a potential food crisis.
Even the International Monetary Fund encouraged India to remove restrictions on the export of certain category of rice, citing the impact on global inflation.
However, the Indian government said the move was aimed at ensuring adequate availability and also to reduce the prices in the domestic market.
India’s move to start exporting non-basmati white rice to the abovementioned countries is likely to reduce pressure on the global market and also bring down prices to some extent.
This article has been republished from India Today