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India continues to ban the export of rice bran

India has just issued a ban on the export of extracted rice bran, effective immediately and lasting until November 30, 2023.

News from the Ministry of Industry and Trade said that on July 28, 2023, the General Department of Foreign Trade of India issued Notice No. 21/2023 on banning the export of extracted rice bran (Deoiled Rice Bran Extraction - DORB), effective effective immediately and lasting until November 30, 2023.

The development happened more than a week after India banned the export of ordinary rice. The new decision was made in the context of a significant increase in the price of milk and dairy products in the country due to the skyrocketing price of animal feed, of which the main ingredient is extracted rice bran (DORB) or rice bran extract, a Main ingredient in animal, poultry and fish feed. According to data from the Indian Ministry of Industry and Trade, in the first 5 months of 2023, India exported 288 thousand tons of extracted rice bran, down 21.54% over the same period. Of which, the amount of bran exported to Vietnam reached 155.9 thousand tons, accounting for 54.13% of India's total exports. India's ban on rice bran exports, effective immediately, will have an impact on rice bran export contracts that have not yet been delivered. In particular, Vietnam is a country that imports a large amount of rice bran from India, so there will be risks for Vietnamese importers.

Vietnamese import businesses need to quickly work with export partners in India to view the status of goods and resolve problems on a contractual basis. Previously, on July 29, Russian authorities announced to stop rice exports until the end of 2023 to support the domestic market. The ban does not apply to member countries of the Eurasian Economic Union, Abkhazia and South Ossetia. The Ministry of Economy of the United Arab Emirates (UAE) also announced to stop rice exports within four months, effective immediately. Russia and the UAE are not among the top 10 rice exporting countries in the world, however, following India to "support the domestic market" makes the world rice import and export market more volatile.