India's non-basmati rice export falls after govt withdraws tax incentive

Government's decision to increase MSP consistently had raised cost of procuring

India’s exports of non-basmati rice declined by half between April and May this year after the government withdrew 5 per cent incentives from April 1.

Data compiled by the government-owned Agricultural & Processed Food Products Export Development Authority (Apeda) showed India’s overall exports at 711,837 tonnes for April-May 2019 compared to 1.53 million tonnes shipped for the corresponding period of the previous year. In value term, India’s overall non-basmati rice exports plunged by more than 50 per cent to $294 million (Rs 2046 crore) for the first two months of FY 2019-2020 as against $652 million (Rs 4347 crore) in