The government on Thursday imposed a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under the paddy crop in the current Kharif season. According to a notification by the revenue department, an export duty of 20 per cent has been imposed on 'rice in husk (paddy or rough)' and 'husked (brown) rice'. The Central Board of Indirect Taxes & Customs further said the export of 'semi-milled or wholly-milled rice, whether or not polished or glazed(other than Parboiled rice and Basmati rice)' will also attract a customs duty of 20 per cent.
Basmati exports may dip due to the increased competition posed by Pakistan.
Seafood is one of India's largest agricultural exports after basmati rice and buffalo meat.
China has started importing Indian rice after a gap of two years and placed orders for the shipment of about 5,000 tonnes of non-basmati rice due to competitive prices offered by India compared to other nations, the All India Rice Exporters Association said.
The old farming practices will have to be changed to save the basmati export business.
The rail ministry's proposal to reduce transportation tariff for foodgrain by Rs 100 per wagon would not have any cooling effect on food inflation, which was close to 18 per cent for the week ended February 6.
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
Livestock auctions remained on hold for the majority of the lockdown as there was no clarity on the matter.
The industry expects Iran to purchase at least 1 million tonnes this financial year
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