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Oct 5, 2022POLICYIndia

Rice export ban: Commerce ministry clarifies there's no export ban, to carry 20% duty

The commerce ministry said there is no outright export ban on rice, and traders can ship after paying a 20% duty. Broken rice remains prohibited, and the duty applies to non-basmati rice.

WHY IT MATTERS

The 20% duty and the broken rice prohibition restrict Indian export supply, which tends to support world rice prices.

AFFECTSRough Rice▲

SOURCE
timesnownews.comET Now DigitalOct 5, 2022

Price reaction & history

Rough Rice▲bullishSO FAR1d +0.0%5d -1.4%20d +1.5%

After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.

May 27, 2022Centre is monitoring India's rice stock: Concerns rise over an export ban | Times Now-2.8%
Sep 12, 2022India restricts rice export - What led to the decision and how it impacts India and the world's food security | Times Now+2.9%
Sep 28, 2023Export ban on rice is regulation rather than restriction for food security: India to WTO's agriculture committee meet - The Hindu-3.3%
Jun 23, 2022Bangladesh slashes rice import tariffs to 25 percent | The Daily Star+0.8%
Dec 18, 2023Rice export ban justified - The HinduBusinessLine+1.6%

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.

Rough Rice RICE · GP ▸

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