Export of de-oiled rice bran under ITC HS code 2306 and under any other HS code is prohibited until November 30, 2013, the DGFT said in a notification.

The government has prohibited the export of de-oiled rice bran until November, a Directorate General of Foreign Trade (DGTD) notification said on Friday.

“Export of de-oiled rice bran under ITC HS code 2306 and under any other HS code is prohibited until November 30, 2013,” the DGFT said in a notification.

The development came after more than a week, when the Centre prohibited the export of non-basmati white rice. The decision has been taken in view of substantially rising milk and milk products prices domestically due to soaring fodder prices in which a major ingredient is de-oiled rice bran (DORB) or rice bran extraction, a key ingredient in cattle, poultry, and fish feed. In the case of cattle feed, about 25 per cent rice bran extraction is used.

The prices of de-oiled rice bran (DORB) have increased sharply to ₹18,000-18,500 a tonne from ₹5,000 per tonne in the last few weeks due to supply tightness. India is a leading exporter of de-oiled rice bran, which is used in the cattle feed industry.

Meanwhile, the International Monetary Fund (IMF) has encouraged India to remove export restrictions on non- basmati rice . The Indian government on July 20 banned the export of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season, which constitutes about 25 per cent of the total rice export of the country.

In an official statement, the food ministry said there would be no change in the export policy of par-boiled non-basmati rice and basmati rice, which forms the bulk of exports, according to a report published by the news agency PTI.

Addressing a press conference, Pierre-Olivier Gourinchas, Chief Economist of IMF said that these types of restrictions are likely to exacerbate volatility in food prices in the rest of the world.

Source : Mint July 28th 2023