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The price of rice has dropped globally after India lifted its 2023 curbs on the export of non-basmati white rice and cut the export tax on white rice to zero and Pakistan removed its Minimum Export Price for all varieties. Let’s take a closer look

BHUBANESWAR: Accusing the state government of neglecting its demands, the All Odisha Rice Millers’ Association (AORMA) on Thursday threatened to stay away from the paddy procurement process for 2024-25 kharif marketing season (KMF).

The recent lifting of the Minimum Export Price (MEP) aims to boost agricultural exports, yet critics argue it's a redundant policy harming small farmers and failing to control food inflation. 

Consumers can expect cheaper rice in the market in December after India lifted its export ban, the Department of Agriculture (DA) said. 

India has lifted most of its rice export restrictions imposed in 2023, expecting higher crop yields due to above-average monsoon rains. India, which contributed over 40% of global rice exports in 2022, saw a 20% drop in exports due to the restrictions, impacting prices and demand globally.

Federal Minister for Commerce Jam Kamal Khan has directed the immediate withdrawal of the Minimum Export Price (MEP) on rice, a measure that had been set in place in 2023. The Ministry of Commerce, under Jam Kamal’s leadership, issued the notification following the request of the Rice Exporters Association of Pakistan (REAP).

India has authorized the resumption of exports for non-basmati white rice, as announced on Saturday, with increasing inventories and farmers gearing up to harvest a new crop in the coming weeks. 

The Department of Agriculture (DA) said the lifting of India’s rice export ban could help stabilize the global supply of the staple and reduce prices here and abroad.

MANILA -- Several farmer groups held a protest action at the central office of the Department of Agriculture on Friday, hitting what they said were 'empty promises' of the agency.