Mumbai: India, the world’s biggest producer of rice after China, partly lifted a six-month-old ban on exports of some premium quality grain as the country is set to harvest a bumper crop for a second year.
Overseas sales of Pusa-1121, grown in northern India, will be permitted starting 15 October, the trade ministry said on Thursday on its website. Details of the shipments from the new harvest must be registered with the ministry, it said.
Rice prices have fallen 25% from a record in April as Thailand and Vietnam, the top suppliers, lifted export forecasts this year after farmers increased plantings. India will consider easing the export ban after the monsoon crop is harvested, agriculture minister Sharad Pawar said in June.
“This may be the first step in relaxing the ban totally,” Vijay Setia, president of the New Delhi-based All India Rice Exporters Association, said on Thursday. India may export most of the 1.4 million tonnes output of Pusa-1121 variety forecast for this year, he said.