India may extend export tax on parboiled rice to ease food inflation ahead of national elections. The government is considering keeping the tax at 20%. No immediate proposal to ban exports. Extension of the tax could keep world supply tight and raise prices. Measures to control food inflation include curbing exports, cracking down on hoarding, and providing subsidized rice to retail customers.
NIZAMABAD: A recent spike in the retail cost of rice has people, especially residents of northern Telangana districts, worried as they are spending an extra Rs 400 to Rs 600 per 25-kg bag. As.
The offtake of rice in September and October 2023 was 2.838 mt and 3.098 mt,respectively, while in September and October 2022, the monthly offtake was 5.848 mt and 5.386 mt , respectively. The offtake of rice in November 2023 was 3.126 mt against 7.083 mt in year-ago month.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was 13.7% lower last year than the 2022 average, but its measures of sugar and rice prices growing in that time. The drop in food commodity prices in 2023 comes despite a difficult year for food security around the world.