# With granaries full, India axes export duty on parboiled rice | Mint

> India's finance ministry removed the export duty on parboiled rice, and the DGFT removed the $490 per tonne minimum export price on non-basmati white rice with immediate effect. Government granaries are full and record foodgrain production of 332.29 million tonnes is expected.

- Date: 2024-10-23 · published 2024-10-23T12:00:00.000Z
- Category: policy · region India · magnitude high
- Page: https://feedsoft.ai/events/27796-with-granaries-full-india-axes-export-duty-on-parboiled-rice-mint
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

With stocks high and exports freed, India is likely to ship more rice into international markets, which weighs on global rice prices.

## Read by commodity

- RICE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| RICE | 2024-10-29 | 1 | -2.4% | -3.1 | Full Indian granaries and record foodgrain output alongside the duty removal signal ample supply that weighs on prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2024-09-27 | [Centre cuts export duty on parboiled rice to 10% \| Mint](https://feedsoft.ai/events/12951-centre-cuts-export-duty-on-parboiled-rice-to-10-mint.md) | +1.6% | +0.8% |
| RICE | 2024-07-09 | [Swelling granaries may prompt India to ease rice export curbs \| Mint](https://feedsoft.ai/events/29225-swelling-granaries-may-prompt-india-to-ease-rice-export-curbs-mint.md) | -13.9% | -10.5% |
| RICE | 2024-10-23 | [India lifts all curbs on rice exports, scraps 10% export duty on parboiled rice, $490 floor price for white rice - The HinduBusinessLine](https://feedsoft.ai/events/27795-india-lifts-all-curbs-on-rice-exports-scraps-10-export-duty-on-parboiled-rice.md) | -1.2% | -0.2% |
| RICE | 2024-10-22 | [India scraps parboiled rice export tax to boost shipments](https://feedsoft.ai/events/27794-india-scraps-parboiled-rice-export-tax-to-boost-shipments.md) | -0.1% | +0.5% |
| RICE | 2025-02-03 | [Govt decides to scrap export tax on parboiled rice to boost exports -](https://feedsoft.ai/events/26007-govt-decides-to-scrap-export-tax-on-parboiled-rice-to-boost-exports.md) | -0.9% | -3.6% |

## Sources

- livemint.com: https://www.livemint.com/industry/agriculture/export-duty-on-parboiled-rice-rice-exports-grananies-foodgrain-production-rice-harvest-wheat-harvest-monsoon-11729668256195.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.