MAP on non-basmati white rice abolished

24-Oct-2024 11:20 AM

New Delhi. As expected, the Central Government has abolished the minimum export price (MAP) of $ 490 per tonne imposed on non-basmati white (raw) rice.

A notification issued by the Directorate General of Foreign Trade (DGFT) on October 23 said that the export of non-basmati white rice (semi-milled or fully milled, whether polished and glazed or not) falling under ITC (HS) code 1006 3090 has already been decontrolled.

After decontrol, a MAP of $ 490 per tonne was imposed for it, which has now been abolished with immediate effect.

With this decision of the government, the requirement of minimum export price for Indian rice exporters has been abolished and they have become free to enter into export contracts of white non-basmati rice even at prices below $ 490 per tonne.

It is worth mentioning that the government has already abolished the minimum export price of $950 per tonne for Basmati rice.

Apart from this, the export duty of 20 percent applicable on non-Basmati Sela rice has been reduced to 10 percent.

It was expected that a decision can be taken to abolish this 10 percent export duty applicable on Sela rice as well, but no announcement has been made so far. Exporters hope that a decision can be taken soon.

In fact, with India re-entering the international export market, the pressure on the price of white rice has started increasing and major exporting countries have started reducing its price.

Due to this, Indian exporters were expected to face inconvenience in facing its competition. In view of this, the government has now completely freed the export of white rice from all controls and restrictions.