# India allows rice exports backed by already issued letters of credit - The Hindu

> India said it will allow rice cargoes backed by letters of credit issued before September 9 to be shipped overseas, easing curbs imposed on September 8 that banned broken rice exports and added a 20% duty. The move frees roughly 1 million tonnes of rice trapped at ports and follows a notice allowing 600,000 tonnes of unmilled rice to Nepal.

- Date: 2022-11-01 · published 2022-11-01T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/38627-india-allows-rice-exports-backed-by-already-issued-letters-of-credit-the-hindu
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Releasing stranded Indian rice supplies adds export availability to a market where India holds over 40% of global shipments, which pressures Asian export prices lower, though the duty and broader curbs keep the overall supply tight.

## Read by commodity

- RICE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| RICE | 2022-11-03 | 5 | +7.3% | 3.2 | India easing curbs by releasing about 1 million tonnes of stranded rice cargoes on Nov 1 is a trade-flow change that could move global prices, though it would mostly be bearish for export prices and the direction versus the US rough rice rise is unclear. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2022-10-13 | [India to permit export of broken rice backed by letters of credit issued before sudden ban](https://feedsoft.ai/events/39076-india-to-permit-export-of-broken-rice-backed-by-letters-of-credit-issued-before.md) | -1.9% | +5.0% |
| RICE | 2025-03-07 | [India allows exports of broken rice to cut stockpiles](https://feedsoft.ai/events/25548-india-allows-exports-of-broken-rice-to-cut-stockpiles.md) | +4.9% | +1.4% |
| RICE | 2023-08-30 | [India allows exports of non-basmati white rice trapped at ports](https://feedsoft.ai/events/34531-india-allows-exports-of-non-basmati-white-rice-trapped-at-ports.md) | +1.2% | -2.2% |
| RICE | 2023-03-26 | [India allows exports of 3.5 lakh tonnes broken rice to Gambia, Senegal - The HinduBusinessLine](https://feedsoft.ai/events/36809-india-allows-exports-of-3-5-lakh-tonnes-broken-rice-to-gambia-senegal-the.md) | -2.6% | -5.3% |
| RICE | 2024-09-30 | [Global rice prices drop after India allows white rice exports \| Reuters](https://feedsoft.ai/events/12945-global-rice-prices-drop-after-india-allows-white-rice-exports-reuters.md) | +0.1% | +0.0% |

## Sources

- thehindu.com: https://www.thehindu.com/business/india-allows-rice-exports-backed-by-already-issued-letters-of-credit/article66080596.ece

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