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India's commerce ministry issued a notification requiring a Certificate of Inspection from the Export Inspection Council or Export Inspection Agency for all rice exports to EU countries, effective immediately. The amendment covers both basmati and non-basmati rice under the ITC (HS) Export Policy 2018.
It applies in addition to existing export policy conditions.
The mandatory inspection adds a procedural step and possible delay for rice shipments to the EU, which can dampen export demand and prices. Shipments to the EU are a meaningful but not dominant outlet for Indian rice.
taxguru.inEditor4Nov 4, 2019After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
