Some consignments will continue to be exported until September 15 if one of the following conditions is met: (i) Goods started to be loaded on board before this notice; (ii) The bill of lading has been issued and the vessel has been docked and moored at the port of India and the ship's stowage number has been allocated; (iii) The shipment has been transferred to the Customs before the notice and has been registered by the Customs on the system.

In addition, on September 8, 2022, the Indian Ministry of Finance also issued Notice No. 49/2022-Customs on the imposition of an export tax of 20% on some types of rice such as: paddy (HS 100610), brown rice (HS 10620) and other types of rice except parboiled rice, Basmati rice (HS 10063090). The decision takes effect from September 9, 2022.

Some exporters said that the Government's decision was too unexpected, causing difficulties for signed contracts. Buyers cannot pay 20% more of the shipment price and sellers cannot pay 20% export tax. V.K Rao, chairman of the Indian Rice Exporters Association, said, “The government's move will boost global rice prices. The export price of white rice could exceed US$400 a tonne from US$350 currently on a free delivery basis.” Indian exporters will ask the government for a tax exemption on about 2 million tonnes of rice that has been contracted for export but has not yet been shipped.

India's move to limit rice exports is expected to have the effect of pushing up global rice prices. At the same time, the ban on the export of broken rice (a raw material for animal feed production) will push up the price of animal feed, especially in the main import markets of this product, China (importing 1.1 million tons). 2021) and Vietnam (import 433 thousand tons in 2021).

In 2021, India exported 21.5 million tons of rice, more than the total rice of the four major exporting countries including Thailand, Vietnam, Pakistan and the US combined.

The Vietnam Trade Office in India recommends that Vietnamese businesses that have signed contracts with Indian partners need to quickly contact the seller to check the delivery status and renegotiate the contract with the shipments. export.
Source: Vietnam Trade Office in India