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The Nigeria Customs Service (NCS) has confirmed that the new fiscal measures on food importation apply only to paddy rice, while the federal government maintains its restriction on rice importation through land borders.

CHANDIGARH: The new governing body of All India Rice Exports Association (ARIA) held a meeting in New Delhi on Friday to discuss the “challenges” faced by the rice industry due to high minimum export price MEP and ban on export of non-basmati rice.

Indian rice export prices declined further this week due to subdued demand and expectations of higher production in the new season as cultivation areas expanded.

The week’s markets were interesting in terms of a return of talk of India removing restrictions on white rice exports

Nigeria - Zero Duty on Rice Import

The amendments to the Rice Tariffication Law (RTL) has officially been proposed in the Senate plenary for debates.

DESPITE worries about the reduced rice tariff collections for the year, the Bureau of Customs (BOC) remains optimistic about hitting its revenue targets through proper assessment of duties and taxes, according to its top official.

Currently, we have a situation where paddy/rice inflation is largely a problem of distortions in the market introduced by governments, both centre and some states 

Vietnam’s rice export is projected to surpass US$5 billion this year, fueled by robust global demand and stable prices, according to experts.

The Philippines is expected to slow down its importation of rice this year even if the government has reduced tariff rates on this staple food.

Rice exporters warned that local rice varieties are at risk of extinction as farmers flock to plant a Vietnamese rice variety known for its soft texture.

Shipments in the period exceed total exports in 2023-24, consignment prices lower since September

Rice exporters face the likelihood of losses this year as input costs rise and export prices fall.

Rice was the Vietnamese product with the highest export value to Philippines in the first six months of 2024, with a turnover of $1.2 billion, up 41% over the same period last year.

In the last 10 years, rice stocks were never as high but inflation is in double digits possibly because high procurement is squeezing supply in private market. Lifting export restrictions can ease pressure to procure and thereby restore balance 

BEIJING (Reuters) -Extreme heat baked megacities on the eastern Chinese seaboard and sharply pushed up demand for power to cool homes and offices, while scorching temperatures in China's interior stoked fears of damage to rice crops.

MANILA, Philippines — Rice inflation has slowed but it remains to be the number one contributor to overall food inflation at 20%, according to data from the Philippine Statistics Authority (PSA) on Tuesday.