The Central Government has introduced amendments to the Export Policy conditions under Chapter 23 of Schedule-II(Export Policy). Additionally, India has also decided to permit export of Non-Basmati White Rice to Malaysia. These amendments mark a significant shift in India’s rice export strategy. Both these notifications were published on August 20, 2024.
The decision to permit the export of 2,00,000 MTs of Non-Basmati White Rice to Malaysia through National Cooperative Exports Limited (NCEL) is a strategic move aimed at balancing domestic supply and demand while exploring new markets for Indian rice.
The government’s decision to allow the export of Non-Basmati White Rice to Malaysia is a strategic move to diversify India’s rice export markets.
Malaysia, a significant importer of rice, offers a lucrative market for Indian rice exporters. By tapping into this market, India can increase its foreign exchange earnings and strengthen its position as a global rice supplier.
The amendments also introduces a temporary ban on the export of De-oiled Rice Bran (DRB) until January 31, 2025. This measure is likely intended to ensure adequate domestic availability of this important agricultural by-product, which is used as livestock feed and in various industrial applications.
However, the temporary ban on DRB exports indicates a cautious approach to managing rice stocks and ensuring domestic availability. DRB is a valuable commodity with multiple uses, and its export restriction is likely aimed at preventing shortages in the domestic market.
The amendment to the Export Policy reflects the government’s ongoing efforts to balance the needs of domestic consumers and exporters. By carefully managing rice exports and ensuring adequate domestic supplies, the government aims to promote the sustainable growth of the Indian rice industry.
