Kolkata: The government is contemplating fixing the export duty on parboiled rice at $100 per tonne, people aware of the matter said. A proposal to this effect was made recently as a measure to curb under-invoicing by exporters wanting to avoid higher payment on account of the current levy of 20% on this variety of rice. The government has formed a committee – Rice Federation Consulting Committee – under the commerce ministry to deal with the issue of rice exports.
On August 25 last year, a 20% export duty was levied on exports of parboiled rice till October 16, 2023 as a step to maintain adequate domestic stock and keep prices under check. The duty, which was extended till March 31 this year, is still continuing. According to some industry executives, many exporters under-invoice so as to avoid higher payout as export duty. However, the government’s move to introduce a fixed export duty of $100 per tonne has irked a section of rice exporters.
Content Source: economictimes.indiatimes.com