DGFT

India lifts ban on rice exports after 3 months-

- The Indian government has lifted a ban imposed nearly three months ago on exports of non-Basmati organic rice, including broken rice, said an official notification from the Directorate General of Foreign Trade (DGFT) issued on Tuesday night.

As part of the federal Ministry of Commerce and Industry, the DGFT is essentially involved in the regulation and promotion of foreign trade through regulation.

The ban on rice exports was imposed to ensure adequate domestic supplies amid fears of a rice shortage after apprehensions were expressed over its lower yield during the winter growing season.

In an attempt to boost domestic supplies at the time, the federal government also imposed a 20 percent export duty on non-Basmati varieties, except for parboiled rice.

The lifting of the ban comes after fears of a potential rice shortage were allayed.

Imposed in early September, the ban grew in importance as it appeared to the federal government that the total area planted to rice might be less than the previous year. Therefore, the federal government thought that it could have an impact on both crop prospects and price increases.

In India, the winter crop season starts in June-July and crops are harvested in October-November. ■