India is the global leader in rice exports and commands around 40% of the global rice trade.
India’s Aromatic Rice Export Policy
The government will lift the ban on aromatic rice exports after a year of the restriction, as the commerce ministry has made a policy decision in this regard. The ban was imposed in June of last year in an effort to stabilize the country's rice market.
The food ministry at the time urged the commerce ministry to prohibit the export of aromatic rice. As a result of the food ministry's recommendation and the nation's successful rice harvest this year, the ban is now being lifted.
A senior official in the Ministry of commerce claims that the ministry has decided as a matter of policy to extend the deadline for exporters who have previously been given approval to export aromatic rice within a specific timeframe.
A total of 41 companies had been given permission to export aromatic rice, according to sources in the Ministry of commerce. However, the ban prevented these businesses from exporting the allotted amount of aromatic rice and thus these companies would have the opportunity for export reapplication.
Aromatic Rice Exports
Before the ban, Bangladesh exported over 10,000 tonnes of aromatic rice each year to 136 nations, including the United Arab Emirates (UAE), Europe, the USA, the United Kingdom, Malaysia, Singapore, Brunei, and South Korea.
Prior to the imposition of the ban, Square Food & Beverage, one of the major exporters, had been granted permission to export 3,000 tonnes of aromatic rice. However, because of the ban, they were unable to complete the export. As per Parvez Saiful Islam, the chief operating officer of Square Food and Beverage, “We would be making efforts to regain our position in the export market. We believe that we can significantly contribute to earning foreign exchange for the country.”
Meeting Held By Bangladesh Trade And Tariff Commission The representatives of the food ministry, the commerce ministry, and exporters met on May 23rd at a meeting hosted by the Bangladesh Trade and Tariff Commission.
The government may take into account allowing the export of aromatic rice on a case-by-case basis, according to Mahbubur Rahman, deputy secretary of the food ministry, who stated during the meeting that there is sufficient rice production in the nation to meet the demand. If the food ministry does not object, the commerce ministry will reevaluate the export issue, according to Tania Islam, deputy secretary of the Commerce ministry.
The meeting decided that the commerce ministry will evaluate and decide on granting permission for aromatic rice export on a case-by-case basis. The commission will then submit an analytical report to the commerce ministry in order to formalize the inclusion of aromatic rice in the export policy. During the meeting, the exporters stated that the country produces 18.35 lakh tonnes of fragrant rice, with approximately 2% of it exported.
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