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India Contemplates Expanding Tax On Parboiled Rice, Raising Concerns For Global Supply


Published Date: February 15, 2024
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In an effort to reduce food inflation ahead of national elections, India, the top exporter of rice worldwide, may extend the export tax on the parboiled variety. This could keep global supply limited and push prices to all-time highs. Tradologie.com, designed in India, for the world, is a user friendly SaaS based global trade hub and your streamlined solution for procurement and sales of B2B commodities such as parboiled rice. On the platform, connect with verified global bulk parboiled rice buyers or parboiled rice exports, bypass middlemen for higher profits, and secure the best bulk prices for your business, effortlessly. Simplify your parboiled rice sales or procurement with Tradologie.com. 

Parboiled Rice Export Policy 

Sources with knowledge of the situation say that the government of Prime Minister Modi is thinking of maintaining the 20% export levy on Parboiled rice. According to them, there is no current plan to ban the export of parboiled rice. Currently, the tax is set to expire on March 31. 

Any such move could add to the recent rally in benchmark Asian rice prices, which are hovering near a 15-year high after India restricted sales of key varieties in 2023. That would be detrimental to a number of Middle Eastern and West African nations that depend on the South Asian country for the majority of their needs in terms of the staple food. 

Motives for Modifications 

An extension of the levy would be part of the government's aggressive measures to combat food inflation, which had risen to nearly 10% in December from a year earlier. India has already restricted wheat, sugar, and most rice exports while cracking down on hoarding. Low import duties on edible oil have also been extended for an additional year.  Even so, Delhi's retail rice prices are still roughly 11% higher than they were a year ago. Tuesday marked the start of a nationwide initiative by Food Minister Piyush Goyal to offer retail customers discounted rice. Chickpeas and wheat flour are already being sold by the government for less than market prices. 

Before the restrictions, 30% of India's total exports were made up of parboiled rice, which is the product of a process that involves partially boiling paddy before milling it to increase its nutritional value and alter the cooked rice's texture. In 2022-23, the South Asian nation accounted for approximately 40% of the global rice trade. If you are a parboiled rice importer wishing to parboiled rice importers or a parboiled rice exporter willing to export bulk parboiled rice, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. 

The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. 

To register as a buyer, click here. To register as a seller, click here. 

To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels. 

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