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Based on the export pace through the first 10 months of the year, the 2022/23 rice export estimate is reduced from 3.7 to 3.4 million tons.
India, the world’s largest rice exporter, disrupted global rice markets by banning white rice exports in July 2023, before placing an export tax on parboiled rice exports in August 2023.
On August 25, 2023, India’s Ministry of Finance issued Notification No. 49/2023 (Customs), notifying with immediate effect that the Indian government is imposing a 20 percent export duty on parboiled non-basmati rice (PNB), harmonized tariff system (HS) code 1006.30.10.