According to a latest notification issued, India has granted permission for traders to move their non-basmati white rice shipments that were stranded at ports due to an abrupt ban on exports of this rice category.
Earlier India Banned Export of Non-Basmati White Rice to Curb Rising Prices
India’s decision to ban the export of non-basmati white rice on July 20th, as a measure to curb escalating domestic prices, took buyers by surprise.
This move followed a ban on broken rice exports imposed last year.
Consequently, this export prohibition resulted in the entrapment of substantial quantities of non-basmati white rice at ports, causing financial hardships for traders.
DGFT Permits Release of Non-Basmati Rice Shipments
In its most recent DGFT Notification No. 30-2023- English, it announced that it would permit the release of stranded rice shipments, provided that traders paid the export duty by the deadline of July 20, coinciding with the imposition of the ban.
Prior to the ban on non-basmati white rice exports in July, shipments of this grade were subject to a 20% tax.
Following the DGFT’s order, approximately 150,000 tonnes of non-basmati white rice cargoes are slated for shipment from various ports, as confirmed by Prem Garg, the President of the Indian Rice Exporters Federation.
Important information related to DGFT allows export of Non-Basmati White Rice
The Directorate General of Foreign Trade (DGFT) has issued a notification stating that the export of non-basmati white rice is permitted through the National Cooperative Exports Limited (NCEL) and for genuine exporters having valid IEC Code Registration.
Moreover, If you want any other guidance relating to DGFT allows export of Non-Basmati White Rice, please feel free to talk to our business advisors at 8881-069-069.
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