India, the leading exporter of parboiled rice, may increase its export tax in order to reduce local prices. There are actually numerous types of rice grown in India, including parboiled rice, which makes up around 30% of all exports. In 2022–2023, the South Asian country represented nearly 40% of world trade. According to persons with knowledge of the situation who wanted to remain anonymous since the negotiations are private, the administration is thinking about extending a 20% export duty that is set to expire on October 15. According to them, there are no plans to increase the tax to 40% as certain market participants have suggested. Despite recent price cooling, the restraints caused an Asian benchmark to soar to its highest level in almost 15 years. According to data gathered by the food ministry, the cost of wheat has increased by roughly 12% while the cost of rice has increased 22% at the retail level in Delhi over the past year. The monsoon season, which runs from June to September, saw the lowest total rainfall in the previous five years.