India Scraps Floor Price for White Rice Exports to Lure Buyers
- Nation removes $490 minimum export price for the rice variety
- Government abolishes 10% export duty on parboiled rice
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India relaxed one of the few remaining curbs on shipments of rice, a move that’s likely to help shippers undercut competitors in the global market and help local growers fetch better prices for their crops.
The government removed the $490 per ton minimum export price for non-basmati white rice, the Directorate General of Foreign Trade said in a notification on Wednesday. It scrapped a 10% duty on outbound sales of parboiled grade on Tuesday.