According to Malaysia's agriculture minister, the country is planning to request another 5,00,000 metric tons of white rice from India. Additionally towards the 1,70,000 tonnes of white rice India had already promised Malaysia for the year, this request would be made. Through diplomatic channels, the government would issue an official request to India shortly, according to a Facebook post by Malaysia's Agriculture Minister Mohamad Sabu. This follows his meeting with S. Jaishankar, the foreign minister of India. The minister added that as part of a government-to-government agreement, Malaysia had also requested 1,00,000 metric tons of onions from India in January. According to the state-owned rice importer Bernas, Malaysia consumes 2.5 million metric tonnes of rice year, with an average of imported supply of 7,50,000 tonnes.
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India, World's Top Rice Exporter, Restricts Shipments
Interestingly, India, the largest rice exporter in the world, has limited exports in order to combat inflation and guarantee food security. The government began levying a 20% export tax on white rice in September 2022. In August 2023, a similar tax on parboiled rice was imposed as a way to keep domestic rice prices under control. Exporters used to have to pay a 20% levy depending on the rice's Free on Board (FOB) value. They now have to pay more duties since the customs administration wants them to take the transaction value into account. According to the sources, the customs department's requests for higher tax payments have put Indian rice exporters under new jeopardy. Exporters voiced concerns about their capacity to pay the levy, given their current financial struggles for nearly two years.
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