rice: Centre imposes 20% export obligation on parboiled rice with rapid impact to keep up satisfactory native inventory – The Financial Occasions Video

Simply days after assuring that there aren’t any plans to limit export of non-Basmati parboiled rice, the Centre late on Friday imposed 20 per cent export obligation on par-boiled rice with rapid impact. The choice was taken to curb the rising costs of rice, and it comes at a time when meals inflation for July had skyrocketed to 11 per cent, pushing the retail inflation for the month to 7.44 per cent. The choice to impose a 20 per cent export obligation on parboiled rice will make buying the commodity costly for international consumers, thus limiting its abroad gross sales and on the similar time boosting its home availability.