November 23, 2018 / 6:21 AM / a month ago

India to give 5 pct subsidy for non-basmati rice exports for 4 months - govt

MUMBAI, Nov 23 (Reuters) - India, the world’s biggest rice exporter, will provide incentives for non-basmati rice exports, the government said in an order reviewed by Reuters, as part of efforts to boost flagging overseas sales of the staple.

The government will give a subsidy of 5 percent for non-basmati rice exports for the four months to March 25, 2019, the trade ministry said in the order dated Nov. 22.

India’s rice exports during April-September dropped 9.6 percent from a year earlier to 5.8 million tonnes, as leading buyer Bangladesh reduced purchases due to bumper local harvest. (Reporting by Rajendra Jadhav; Editing by Subhranshu Sahu)

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