India will not benefit from the reduction in import duty on rice in the Philippines.

26-Jun-2024 08:18 PM

Hyderabad. However, the government of the Philippines, a country located in South-East Asia, has decided to reduce the import duty on rice from 35 percent to 15 percent,

which will be effective from the beginning of August and will remain in force till the year 2028. But India is not likely to get any special benefit from this in the near future. In fact, mainly white (raw) non-basmati rice is imported in the Philippines,

while the commercial export of this rice from India has been banned since July 2023. Although the Government of India had issued an export quota for white rice on the special request of the Philippines government,

it authorized one of its subordinate agencies for its shipment. It is worth noting that the Philippines imports the most rice from its neighboring country -

Vietnam and then from Thailand. The Philippines is a major importer of rice. Due to a huge reduction in import duty there, Vietnam can get good success in increasing its rice exports.

If export of white non-basmati rice is allowed from India, Indian exporters can make some efforts there. Indian exporters are also not getting an opportunity to enter the rice market of Indonesia.