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 had imposed a 20% duty on parboiled rice exports in 2023 after its crop was affected by below-normal rainfall. The government also reduced the export duty on brown rice and husked rice to 10%, the notification said. This reduction will take effect immediately.

The Department of Agriculture (DA) on Monday said that India’s lifting of its export ban on non-basmati rice may help soften global price pressures. “We hope that (the) world price of rice will go down a bit,