77th anniversary of Poonch link-up with India celebrated
The 77th link-up anniversary of Poonch with the rest of India was on Friday celebrated by the Army and civilian population of the border region.
Malaysia is set to submit a request to India to procure an additional 5,00,000 metric tonnes of white rice, the country’s agriculture minister said.
This request would be in addition to the 1,70,000 tonnes of white rice India has previously allocated to Malaysia for the year.
“The government will send an official request to India through diplomatic channels shortly,” Malaysia’s Agriculture Minister Mohamad Sabu said in a Facebook post. This comes after his meeting with India’s Foreign Minister S Jaishankar.
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The minister further said Malaysia had also submitted a request to India in January for 1,00,000 metric tonnes of onions through a government-to-government arrangement.
As per the Bernas, the state-run rice importer, Malaysia’s annual rice consumption is 2.5 million metric tonnes, with an average imported supply of 7,50,000 tonnes.
Notably, India is the world’s biggest rice exporter and has restricted shipments to offset inflation and ensure food security.
In September 2022, the government implemented a 20% export duty on white rice. This was followed by a similar duty on parboiled rice in August 2023, as a measure to control domestic rice prices.
Previously, exporters were paying a 20% duty based on the Free on Board (FOB) value of rice.
However, the customs department now requires them to consider the transaction value, resulting in additional duty payments.
As per the reports, Indian rice exporters face a fresh threat following demands from the customs department for additional tax payments.
Exporters, who are already grappling with financial challenges, expressed concerns over their ability to pay the duty difference for nearly two years.
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