Stakeholders of West Bengal’s rice trade on Saturday heaved a sigh of aid after the Centre eliminated the ban on abroad shipments of non-basmati white rice.
The federal government’s transfer is anticipated to assist reopen 500-600 rice mills within the state, which had been closed for the previous one yr on account of a stoop in demand within the wake of export restrictions, Bengal Rice Mills Affiliation president Sushil Kumar Choudhury mentioned.
The lifting of the ban on exports may also allow farmers to fetch higher costs over the minimal help worth (MSP), he mentioned.
“The elimination of the export ban is not going to solely increase the operation of rice mills but additionally enhance the typical realisation for farmers, which had been subdued up to now yr. Of the 1,400-1,500 mills in West Bengal, 500-600 had been closed on account of weak export demand and mounting losses,” Choudhury advised PTI.
On common, every mill straight and not directly employs round 500 individuals, he mentioned.
Earlier within the day, the federal government eliminated the blanket ban on abroad shipments of non-basmati white rice and imposed a minimal export worth (MEP) of USD 490 per tonne.
Exports of non-basmati white rice have been banned since July 20, 2023 to spice up home provide.
“The export coverage for non-basmati white rice (semi-milled or wholly milled rice, whether or not or not polished or gazed) …Is amended from prohibited to free, topic to MEP of USD 490 per tonne with quick impact and till additional orders,” the directorate basic of overseas commerce (DGFT) mentioned in a notification.
Highlighting the nationwide situation, Indian Rice Exporters’ Federation vp Dev Garg welcomed the transfer, stating that the excess shares, with an anticipated bumper rice crop, are prone to enhance by 275 lakh metric tonnes by March 31, 2025.
“The non-opening of exports may have been very tough to handle for the federal government as a result of, firstly, we would not have sufficient storage for this extra commodity and secondly, the carrying price, at present at Rs 45,000 crore, may rise to Rs 1,05,000 crore as a result of surplus inventory,” Garg mentioned.
“India’s daring choice to elevate restrictions on non-basmati white rice exports is a game-changer for the agricultural sector,” RiceVilla Meals CEO Suraj Agarwal mentioned.
The strategic transfer is not going to solely increase exporters’ earnings but additionally empower farmers, who can count on larger returns with the arrival of the brand new kharif crop, he added.
Soumen Kundu, a paddy dealer from Burdwan, mentioned the transfer would enhance enterprise, which had been halved for mills within the space, the place 50-60 mills course of ‘Gobindo Bhog’ rice.
West Bengal Agricultural Advertising Minister Becharam Manna mentioned the lifting of the ban would convey aid, and higher realisation is anticipated after “farmers endured extreme floods in a number of districts as a result of uncontrolled launch of water by the DVC”.
