India bans export of regular rice

Workers transport rice at a warehouse in Bangalore, India (illustrative photo)

However, the ban does not apply to consignments loaded on board before the ban notice; consignments for which the bill of lading has been completed, the vessel has arrived at an Indian port and the loading order has been issued; consignments handed over to Customs before the ban notice and registered in the e-customs system, or consignments placed in customs warehouses for export before the ban notice. The deadline for export of such consignments is 31.8.2023. The consignments are exported under licence from the Government of India to countries to meet their food security needs and based on the request of the government of that country.

India has been the world's leading rice exporter since 2012. In recent years, India's rice exports have been greater than the combined exports of Thailand, Vietnam and Pakistan.

According to data from the Indian Ministry of Industry and Trade, in May 2023, Vietnam imported a record volume of rice from India, about 101,000 tons - an increase of 56.64% compared to May 2022, and ranked 4th among countries importing Indian rice in terms of volume. In the first 5 months of 2023, Vietnam imported 367,500 tons of Indian rice, an increase of 31.76% over the same period last year, ranking 8th among countries importing Indian rice.

Bloomberg previously reported that the Indian government is considering banning most rice exports. The ban could affect about 80% of India’s rice exports, driving down prices in India and potentially impacting global rice prices.

According to VNA