India sharply reduces rice export tax

In order to promote rice exports and stabilize the market, the Indian Government has decided to sharply reduce the export tax on parboiled rice to 10%.

Farmers harvest rice in a field in Nagaon, Assam state, India. Photo: THX/TTXVN

The decision comes as the country has large rice stocks and farmers prepare to harvest the new crop. Last year, India imposed a 20% export tax on parboiled rice when the crop was hampered by drought.

Parboiled rice is rice whose grains are soaked in hot water before being processed. Not only parboiled rice, the export tax on brown rice has also been reduced to 10%. This decision takes effect immediately.

Earlier this month, India removed the floor price for exports of basmati rice, India’s signature variety and national product. The move is aimed at helping thousands of farmers struggling to access major export markets such as Europe, the Middle East and the United States.

HA TRANG

Source: https://www.sggp.org.vn/an-do-giam-manh-thue-xuat-khau-gao-post761215.html