New Delhi, The Indian Rice Exporters Federation on Monday said the lifting of the import ban by a major Indian rice importer will boost exports of the grain and reduce the impact of new US tariffs.
Prem Garg, president of the Indian Rice Exporters Federation (IREF), said a major international market has decided to lift a four-month ban on rice imports.
“This development is significant as this market is a major importer of Indian rice, with annual imports of over 1,000,000 metric tonnes, and the lifting of the ban will significantly increase our exports,” Garg said.
“This will increase India’s trade options and give us an opportunity to diversify to new markets in new and exciting ways,” he added.
Iran has decided to lift a four-month ban on rice imports to reduce domestic prices, according to media reports.
“India currently supplies over 45 per cent of the global rice trade, and with the right support and vision, we can increase our global share to 55 per cent, turning this challenge into an opportunity for growth,” Garg said.
The association had recently said that the 25 per cent tariff imposed by the US on Indian commodities, including rice, would be a “temporary hurdle” for the sector and not a major impediment. Indian rice exports to the US stood at around 2.34 lakh tonnes in 2023-24.
IREF represents over 7,500 rice industry stakeholders, including exporters and millers.
