30 September 2024, New Delhi: In a significant move, the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, has issued a notification amending the export policy of Non-Basmati White Rice (HS code 1006 30 90). The government has relaxed the earlier prohibition on the export of this variety of rice, making it “free” for export, but with a crucial condition.
The export of Non-Basmati White Rice (semi-milled or wholly milled, whether polished or glazed) is now permitted, provided it meets a Minimum Export Price (MEP) of USD 490 per tonne (Rs 40,670/tonnes). This revision comes into immediate effect as per Notification No. 31/2024-25, issued on 28th September 2024.
The amendment, exercised under the powers conferred by the Foreign Trade (Development & Regulation) Act, 1992, will allow exporters to resume shipments of this rice variety, which had previously been prohibited. The introduction of the MEP ensures that exports remain viable while safeguarding domestic supply and controlling price fluctuations.
This change is expected to impact both international rice markets and Indian exporters, providing an opportunity to engage in trade under the new guidelines.
Key Details of the Amendment:
Revised Policy: Free, subject to a Minimum Export Price (MEP) of USD 490 per tonne
Item Description: Non-Basmati White Rice (HS code 1006 30 90)
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News) (+80 Million Farming Audience Visits Krishak Jagat’s Hindi Website – Click Here for Website)
