Government extended the last date for tax on boiled rice, now tax will be charged till this day

The government has extended the duty on the export of boiled rice by more than five months till March 31. The government had imposed a 20 percent export duty on parboiled rice from August 25 to October 16 to maintain adequate stocks in the country and keep domestic prices under control.

The Finance Ministry has now extended the export duty till March 31, 2024. With these restrictions, India has now banned all varieties of non-Basmati rice.

The share of non-Basmati white rice in the total rice exported from the country is about 25 percent.

In July the government banned the export of non-Basmati white rice. The move was taken to boost domestic supply and keep retail prices under control during the upcoming festive season.

The export of broken rice was banned in September last year. About 15.54 lakh tonnes of non-Basmati white rice was exported in the April-June period of the current financial year, compared to only 11.55 lakh tonnes in the year-ago period.

Annual retail or consumer price inflation stood at a three-month low of 5.02 percent in September. India's total export of Basmati rice in 2022-23 was 45.6 lakh tonnes valued at US$ 4.8 billion.

In the last financial year, non-Basmati exports were 177.9 lakh tonnes worth US$ 6.36 billion. India's rice production is estimated to rise to 135.54 million tonnes in the 2022-23 crop year (July-June) from 129.47 million tonnes in the previous year, according to agriculture ministry data.