A day after eradicating export obligation on rice within the husk (paddy or tough), husked (brown) rice and parboiled rice from 10 per cent to nil, the Centre Wednesday lifted with “fast impact” the Minimal Export Worth of $490 (Rs 41,193.25) per tonne on export of non-basmati white rice.
In its order, the Directorate Common of International Commerce (DGFT) stated, “The requirement of Minimal Export Worth (MEP) for the export of Non-Basmati White Rice below HS code 10063090 has been lifted with fast impact. That is issued with the approval of the competent authority.”
In a separate improvement, the Ministry of Finance issued a notification, bringing down export obligation on three classes of rice exports from the present 10 per cent to nil. “This notification shall come into power with fast impact,” stated the notification issued by the Ministry of Finance on Tuesday.
The transfer will enhance rice shipments. It comes days after the federal government lifted the ban on export of non-basmati white rice. On September 28, the Centre had lifted the ban however imposed a minimal export value of $490 per tonne.
Final month, the federal government eliminated the 20% export obligation on non-basmati white rice, and halved export obligation on three different classes of rice. The obligation on ‘rice within the husk (paddy or tough)’, ‘husked (brown) rice’, and ‘parboiled rice’ was decreased from 20 per cent to 10 per cent. Now, it has been additional decreased to nil.
