“Export of 75,000 tonnes of non-Basmati white rice to the UAE is permitted through National Cooperative Exports Limited,” the Directorate General of Foreign Trade (DGFT) said in a notice issued on Monday.
India is the largest exporter of rice, accounting for over 40% of global rice exports.
According to the Economic Times, an Indian financial daily, India exported US$2.2 billion worth of non-Basmati white rice this year. The top destinations for these exports included the UAE, Kenya, Madagascar, and Benin.
However, in September 2022, the government banned the export of broken rice to control rising prices and enhance domestic supply.
In July, India banned exports of widely consumed non-basmati white rice, following a ban on broken rice exports last year.
Additionally, New Delhi imposed a 20% duty on parboiled rice exports a month later to protect domestic prices, which were already trading near their highest levels in 12 years.
The government has now also allowed the export of non-basmati rice to Bhutan, Mauritius, and Singapore through the NCEL.
Philippines tightens import tariffs on rice
Meanwhile, Philippine President Ferdinand Marcos Jr. rejected a proposal to reduce tariffs on imported rice on Tuesday. His office stated that this decision was made due to the expected decrease in world prices of grain.
The decision followed a meeting on Tuesday among the country’s economic and agriculture officials, including Marcos, who is also the agriculture secretary.
The finance and economic planning departments have proposed a tariff reduction for rice imports, aiming to lower it from the current 35% to a range between zero and 10%. This move was part of the government’s efforts to alleviate inflationary pressures.
The Philippines is one of the world’s largest importers of grain, frequently sourcing the majority of its imports from Vietnam.
“It was not the right time to lower the tariff rates because the projection for world rice prices is that they will go down. So, this is not the right time to lower tariffs. Tariffs are generally lowered when the price is going up,” the Marcos stated.