India considering export tax on parboiled rice

India is considering imposing an export tax on parboiled rice variety, ET Now television channel reported on Tuesday, citing agencies.

The Indian government had last month surprised buyers by imposing a ban on export of widely consumed non-basmati white rice taking global prices to 15-year-high.

Asian rice exporters had raised offered prices by around 20% since India banned non-basmati white rice exports last month, heightening food inflation risks for some of the most vulnerable consumers in Asia and Africa who are already struggling with lower supplies due to erratic weather and the war in Ukraine.

“Buyers have agreed to pay higher prices for some of (the) cargoes which they bought for August shipment,” said one trader at an international trading company. He added that around 200,000 tons of rice have been shipped this month while 300,000 tons were yet to be loaded at Vietnamese ports.

Thailand to benefit from India’s rice export ban

Importers, including Indonesia and the Philippines, have paid between $30 and $80 a ton above deals signed at around $550 a ton for fragrant Vietnamese rice before India banned white rice exports in July, the Singapore-based traders said.