Central government makes bold move, lifts ban on agricultural sector for…

The Indian government lifted the ban on non-basmati white rice exports late Friday, a decision that has already sent waves of excitement through the agricultural sector. Just months after the ban was implemented in July 2023 to secure domestic supply and control rising prices, this policy shift is being hailed as a pivotal moment for India’s rice industry.

Exporters, who had long been advocating for the ban's removal, were quick to praise the decision. Suraj Agarwal, CEO of Rice Villa, described the lift as a “game-changer,” noting that the timing is perfect with the kharif crop around the corner. "This move will increase income for exporters and deliver better returns to farmers," Agarwal emphasised, highlighting the expected surge in demand for Indian rice in global markets.

Adding to the excitement, the government also reduced export duties on parboiled rice from 20% to 10%, a move that further signals India’s intent to strengthen its rice export market. However, the government clarified that the 20% export tax on parboiled rice would remain in place for the foreseeable future.

Keshab Kr Halder, a prominent voice in the industry from Halder Group, expressed gratitude, remarking, “We’ve been waiting for this moment. This is a turning point that will boost both our agricultural and export sectors.”

With the non-basmati white rice ban now history, the agricultural industry is poised for growth. This policy shift not only ensures a revived export market but also signals India's readiness to balance domestic stability with global trade opportunities.