India Has Imposed A Ban On Rice Exports

India Has Imposed A Ban On Rice Exports

July 21, 2023, 8:12 a.m.

India has banned the export of rice. India's Directorate General of Foreign Trade has issued a notification banning the export of all types of non-Basmati white rice. "According to the export policy, non-Basmati white rice has been banned from being freely exported," the Directorate General's notification said.

This will largely affect Nepalese market. Nepal imported over Rs.16 billion rice from India last year.

It has been mentioned that in the case of the situation where the goods have already been loaded for export before the notification is issued, the notification will not cause any hindrance. According to the Indian media, the government has banned the export of rice as the price of rice in India has started to increase due to the forecast of a decrease in production after the lack of rain in India's major rice producing areas.

After India banned the export of rice, there was a disruption in the food supply chain, and it is estimated that the price will increase in countries including Nepal. BV Krishna Rao, president of the Rice Exporters Association of India (REA), said that the price has increased because the government has taken steps to increase the purchase price of rice. "The government has kept more than necessary balance for welfare schemes, so there is no need to ban exports," he told Reuters.

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