India has clarified that it is not contemplating any limitations on the export of non-basmati parboiled rice, according to Food Secretary Sanjeev Chopra’s statement on Tuesday.
Last month, India caught buyers off guard by imposing a ban on the export of widely consumed non-basmati white rice, following a similar ban on broken rice exports last year.
Chopra responded to inquiries about potential export tax or floor price implementations for parboiled rice exports, stating, “There is no proposal as of now to restrict parboiled rice exports.”
Currently, exports of parboiled rice, accounting for nearly a third of India’s overall rice exports, are not subject to any constraints.
At the beginning of August, India’s rice stocks were almost three times its targeted amount.
Prem Garg, president of the Indian Rice Exporters Federation, noted, “The government has surplus stocks, the open market has surplus stocks, and the new crop will start arriving within two months. Rice supplies are more than comfortable.”
Last week, government sources indicated that India is in discussions with Russia to import wheat at a discounted rate, amidst surging global prices. This unusual move aims to bolster supplies and mitigate food inflation ahead of state and national elections next year.
Wheat stocks in government warehouses stood at 28.3 million tons on August 1, representing a 20% decline from the 10-year average.
Separately, Chopra also announced that the government would permit mills to sell an additional 200,000 tons of sugar in August. Earlier this month, mills were allowed to sell 2.33 million tons of sugar in the open market.
The federal government establishes monthly quotas for each mill’s open market sales.
