On July 20, India surprised buyers by banning exports of widely consumed non-basmati white rice to control rising domestic prices. The export ban trapped thousands of tonnes of non-basmati white rice at ports, leaving traders facing losses. Before the July ban on non-basmati white rice exports, overseas shipments of the grade would attract a 20% tax. After the DGFT order, around 150,000 tonnes of non-basmati white rice cargoes would be shipped out of various ports, said Prem Garg, president of the Indian Rice Exporters Federation. After banning non-basmati white rice exports, India on Friday imposed a 20% tax on parboiled rice shipments and introduced a floor price for overseas sales of basmati rice, as part of efforts to keep a lid on local prices.

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Persons: Francis Mascarenhas, Prem Garg, Garg, Mayank Bhardwaj, Josie Kao Organizations: REUTERS, DELHI, Foreign Trade, Rice, Federation, West, Thomson Locations: Navi Mumbai, India, Africa, Asia . New Delhi, African