The Indian government has imposed a 20% export duty on parboiled rice to ensure a steady supply of rice in the country amid rising prices of the commodity, according to cnbctv18.
As per the notification issued by the Ministry of Finance, it will be implemented with immediate effect from August 25 to October 16, 2023.
The shipments of parboiled rice held at customs ports without “let export order” (LEO) approval and having valid “letters of credit” (LCs) issued before August 25, 2023, will be exempted from the export duty.
