India’s rice exporters are gearing up to ship the grain to the Philippines from next month as the Southeast Asian nation has reduced the import duty on rice being shipped from India to 35% from 50%. Philippines is the second-largest importer of the commodity in the world. It’s a good news to all rice exporter. “We will be exporting non-basmati rice to the country. We are currently looking into the modalities of export to Philippines,” president of the Rice Exporters Association, BV Krishna Rao. In 2020-21, India’s rice exports almost doubled to an all-time high of 17.7 metric tonnes from 9.5 metric tonne in the previous financial year. There was an almost 4% increase in basmati exports to 4.45 metric tonnes and a 160% surge in non-basmati rice exports to 13.09 metric tonnes, according to data with Agricultural and Processed Food Products Export Development Authority. (source by:- Economics Times)
