BUSINESS

India to give 5% subsidy for non-basmati rice exports for 4 months: govt

 

India, the world’s biggest rice exporter, will provide incentives for non-basmati rice exports, the government said in an order reviewed by Reuters, as part of efforts to boost flagging overseas sales of the staple.

The government will give a subsidy of 5 percent for non-basmati rice exports for the four months to March 25, 2019, the trade ministry said in the order dated November 22.

India’s rice exports during April-September dropped 9.6 percent from a year earlier to 5.8 million tonnes, as leading buyer Bangladesh reduced purchases due to bumper local harvest.(REUTERS)

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