Indian rice may face extra tariffs as millers’ body seeks review of trade pacts with various nations
The European Union (EU) may resort to imposing safeguard duties on rice imports, including from India, as it is under pressure from the rice industry that is facing a crisis.
Trade organisations, led by the Federation of Rice Millers (FERM), are seeking a review of the trade agreements entered into by the EU and safeguard mechanisms to protect the domestic industry. They say EU rice production is becoming economically unviable, while producers and exporters are facing mounting burdens that are crushing businesses.
According to EU agri-food group Copa-Cogeca, rice imports into the EU reached around 1.7 million tonnes a couple of weeks ago, with a significant share of the year’s exports entering the EU market at reduced or zero tariffs under existing trade deals.
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