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Post slightly lowers the MY 2023/24 rice production forecast due to some minor aman season crop damage caused by a cyclone. Despite the reduced production, Post lowers the rice import forecast to 500 thousand MT, as the Government of Bangladesh maintains its high rice import tariff of 62.5 percent.

No significant changes are made to 2023/24 rice and wheat supply and demand forecasts. Private sector wheat import commitments of about 1.4 million tons underpin the 2 million ton 2023/24 wheat import forecast.

Planting of India’s rabi season (i.e., winter sown, spring harvested) crops is progressing somewhat slower than anticipated due to relatively dry soil moisture conditions.

The Democratic Socialist Republic of Sri Lanka’s (Sri Lanka) Ministry of Finance, Economic Stabilization and National Policies recently introduced a Special Commodity Levy for three agricultural commodities: maize (corn), black gram, and green gram, effective August 18, 2023, for a period of six-months.

On October 27, 2023, India’s Ministry of Agriculture and Farmers Welfare (MOAFW) released Indian crop year (ICY) 2023/2024 (July-June) First Advance Estimate for the kharif (fall harvested) crop.

As a result of very dry weather conditions in key growing regions and then high precipitation during harvest, Kazakhstan’s 2023 wheat production is expected to drop sharply to around three-quarter of last year’s level. Despite lower production, large...

Based on the export pace through the first 10 months of the year, the 2022/23 rice export estimate is reduced from 3.7 to 3.4 million tons.

India, the world’s largest rice exporter, disrupted global rice markets by banning white rice exports in July 2023, before placing an export tax on parboiled rice exports in August 2023.

On August 25, 2023, India’s Ministry of Finance issued Notification No. 49/2023 (Customs), notifying with immediate effect that the Indian government is imposing a 20 percent export duty on parboiled non-basmati rice (PNB), harmonized tariff system (HS) code 1006.30.10.

On July 20, 2023, the India’s Ministry of Commerce and Industry (MoCI)/Directorate General of Foreign Trade issued Notification No. 20/2023 – Amendment in Export Policy of Non-basmati Rice under Harmonized System (HS) Code 1006.30.90.

With the late arrival of monsoon rains in Bangladesh, Post lowers its forecasts of rice harvested area and production in marketing year (MY) 2023/24, on decreased aus and aman season rice cultivation.

The Democratic Socialist Republic of Sri Lanka’s (Sri Lanka) Ministry of Health recently introduced the Food (Refined Wheat Flour Fortification) Regulations (2022).