India expands curbs on rice exports tax by 20%

Indian government has imposed a 20 percent export duty on parboiled rice with immediate effect, a move that could further reduce shipments from the world’s largest exporter and lift global rice prices, according to a statement on Friday.

“With this duty, Indian parboiled rice would become as expensive as supplies from Thailand and Pakistan. There is hardly any option for buyers now,” said a Mumbai-based dealer with a global trade house.

Earlier, the government had banned the export of broken rice and non-basmati rice. Besides, it is expected to notify a minimum export price (MEP) for basmati rice, pegged at $1,200 (Rs 99,000) a ton.