India has removed most of the export curbs it imposed on rice shipments in 2023 with immediate effect, as above-average monsoon rains are expected to boost crop yields amid overflowing stocks in state granaries.

India loosened restrictions on some rice exports, a move that may ease global prices and signal a shift in domestic agricultural policies following the recent national elections.

The Indian government has lifted the blanket ban on the export of non-basmati white rice, imposing a minimum export price of USD 490 per tonne and exempting it from export duty. This shift follows a ban enacted in July to secure domestic supply.

India on Friday reduced export duty on parboiled rice to 10% from 20% earlier, the government said in a notification.

India loosened restrictions on some rice exports, a move that may ease global prices and signal a shift in domestic agricultural policies following recent national elections.

India loosened restrictions on some rice exports, a move that may ease global prices and signal a shift in domestic agricultural policies following recent national elections.Most Read from BloombergVanderbilt Leases Struggling NYC Seminary for Campus ExpansionClimate Migrants Stand to Overwhelm World’s MegacitiesNJ Transit,

India on Saturday allowed exports of non-basmati white rice exports as inventories in the world's biggest exporter of the grain surged and farmers are set to harvest a new crop in the coming weeks. New Delhi set a floor price for non-basmati exports at $490 per metric ton,

The government has exempted export of non-basmati white rice from customs duty. In a notification issued late Friday, the revenue department also reduced export duty on parboiled rice, husked (brown rice),