{"id":25808,"date":"2025-01-01T21:11:50","date_gmt":"2025-01-01T15:41:50","guid":{"rendered":"https:\/\/www.oyspa.com\/blog\/?p=25808"},"modified":"2025-01-01T21:11:50","modified_gmt":"2025-01-01T15:41:50","slug":"india-removes-minimum-export-price-on-non-basmati-white-rice","status":"publish","type":"post","link":"https:\/\/www.oyspa.com\/blog\/news\/india-removes-minimum-export-price-on-non-basmati-white-rice\/","title":{"rendered":"India removes minimum export price on non-basmati white rice"},"content":{"rendered":"\n

MEP of $490\/mt on non-basmati white rice exports removed India’s export potential expected to boost Indian white rice prices expected to become more competitive<\/h3>\n\n\n\n

India scrapped the Minimum Export Price (MEP) of $490\/mt on non-basmati white rice under HS Code 1006 30 90, the Ministry of Commerce & Industry said Oct. 23.<\/p>\n\n\n\n

Market participants hailed the MEP removal as a significant advantage for Indian non-basmati rice exports. They expect that this move will not only boost India\u2019s export potential but also make Indian white rice more competitive globally.<\/p>\n\n\n\n

The notification followed the government’s announcement on Oct. 22\u00a0about lifting the 10% export duty on parboiled rice\u00a0and stated that the MEP on \u201cnon-basmati white rice (semi-milled or wholly milled rice, whether or not polished or glazed)\u201d was lifted with immediate effect.<\/p>\n\n\n\n

In September, India reduced the\u00a0export duty on parboiled rice\u00a0from 20% to 10%,<\/strong>\u00a0lifted the ban on non-basmati white rice exports\u00a0and introduced the MEP of $490\/mt in response to swelling granaries and a bumper harvest expected from the upcoming Kharif season crop.<\/p>\n\n\n\n

India’s white rice prices to become more competitive<\/strong><\/h2>\n\n\n\n

At MEP, Indian white rice was losing its competitiveness to other origins such as Pakistan.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

Platts, part of S&P Global Commodity Insights, assessed Indian 5% white rice at $490\/mt FOB on Oct. 23, at a premium of $13\/mt over Pakistani 5% WR, while remaining at a discount of $10\/mt to Myanmar 5% WR, $15\/mt to Thai 5% WR and $33\/mt to Vietnamese 5% WR.<\/p>\n\n\n\n

A trader noted that Indian white rice has begun receiving orders, replacing Myanmar and Vietnam in African markets, indicating increased demand due to eased export restrictions.<\/p>\n\n\n\n

This period coincides with an influx of fresh crop harvests from all origin markets, including India, which anticipates a bumper harvest.<\/p>\n\n\n\n

India is forecast to export 20.5 million mt of rice in the marketing year 2024-25 (October-September), up 37% year-over-year, according to Commodity Insights data.<\/p>\n","protected":false},"excerpt":{"rendered":"

MEP of $490\/mt on non-basmati white rice exports removed India’s export potential expected to boost Indian white rice prices expected 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