New Delhi: India is likely to export less rice this financial year resulting in the country. This may cause India to lose its position in the global trade market, said exporters, reports Live Mint.
According to Vinod Kaul, executive director of All India Rice Exporters Association, “India’s non-basmati rice exports hit a record high in FY23. But exports are seen plunging in FY24 as the impact of a 20% export duty on non-basmati varieties is expected to start reflecting from April onwards.”
The Centre allowed the export of 400,000 tonnes of rice despite the ban following the request of traders and embassies. The export of broken rice will come to zero unless there is a change in the duty structure, said Kaul. The export of semi and wholly-milled rice would decline by 15-20%.
