Posted on October, 23, 2024 at 09:09 am
The Centre on October 22 announced the reduction of export tax on parboiled rice to zero from the current 10 percent, a government notification said.
The move comes as inventories in the world's biggest exporter of the grain surged and the country is set to produce a bumper crop after copious monsoon rains.
Tuesday's decision to remove the tax follows last month's move to reduce the duty to 10 percent from 20 percent to boost exports.
In September, the government also gave the go ahead for exports of non-basmati white rice to resume. But New Delhi set a floor price for non-basmati white rice exports at $490 a metric ton.
Source: Money Control