India Allows Export Of 450,000 MT To Bangladesh

As a one time waiver of an earlier order banning all exports of rice priced below $500 PMT, India allowed the export of 450,000 MT of non-basmati rice to neighboring Bangladesh.

India had imposed a blanket ban on all non-basmati rice exports in October to shore up local supplies. However, it later relaxed the ban and allowed exports of only those varieties of rice that were priced above $500 PMT, FOB in the international markets due to strong pressure from traders and farmers groups.