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The DGFT issued Notification No. 37/2024-25, amending the export policy for non-basmati white rice under HS code 1006 30 90 effective October 23, 2024. The notification lifts the $490 per tonne minimum export price, allowing free exports of the variety.
The formal notification confirms that non-basmati white rice can now ship without a price floor, adding export supply that is bearish for global rice prices.
taxguru.inEditor DGFT Notifications , Notifications/CircularsOct 23, 2024After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The DGFT notification formalizes free exports of non-basmati white rice, adding to expected export supply and bearish pressure.
