Indian Rice Exporters Set to Gain from US Tariff Reduction
The Indian Rice Exporters Federation anticipates a boost in exports with a proposed reduction of US import tariffs on Indian goods from 25% to 18%. This move is expected to enhance competitiveness, aligning India's tariff parity with countries like Thailand and Pakistan, and potentially increasing shipment volumes.
- Country:
- India
In a significant development for Indian rice exporters, the US is expected to reduce import tariffs on Indian goods from 25% to 18%. The Indian Rice Exporters Federation (IREF) expressed optimism that this reduction will restore price parity with competitors such as Thailand and Pakistan.
National President Prem Garg of IREF stated that this revised tariff structure is anticipated to boost shipment volumes and competitiveness in key markets. Suraj Agarwal, CEO of RiceVilla Group, noted that the move effectively neutralizes previous disadvantages and opens up high-value markets for Indian rice.
India, entering the season with a record rice production of approximately 149 million metric tonnes, is set to benefit from increased demand. Despite past tariff hikes, Indian rice exports have shown resilience, with significant increases in Basmati shipments to the US.
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