India Slashes Export Duty on Parboiled Rice by Half

India has announced a reduction in the export duty on parboiled rice from 20% to 10%. This decision comes after the country faced agricultural challenges due to below-normal rainfall, which had originally prompted the higher duty in 2023.

India has announced a significant reduction in the export duty on parboiled rice, lowering it from 20% to 10%, according to a government notification issued on Friday.

The decision comes as a relief to exporters and is seen as a move to stabilize the market. India, the world's largest rice exporter, had imposed the 20% duty earlier in 2023, following below-normal rainfall that adversely affected its crop yield.

This policy shift aims to boost rice exports and manage the economic impact of the previous adverse weather conditions.