UAE Imposes Temporary Ban on Rice Exports and Re-Exports

A farmer harvests at a rice paddy on the outskirts of Srinagar, India. (AFP)
A farmer harvests at a rice paddy on the outskirts of Srinagar, India. (AFP)
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UAE Imposes Temporary Ban on Rice Exports and Re-Exports

A farmer harvests at a rice paddy on the outskirts of Srinagar, India. (AFP)
A farmer harvests at a rice paddy on the outskirts of Srinagar, India. (AFP)

The United Arab Emirates has temporarily banned rice exports and re-exports for four months as of Friday.

The decision included banning the export and re-export of rice originating India imported into the country, including free zones, after July 20.

The UAE Ministry of Economy said the ban would cover rice of all varieties including brown rice, fully or partially milled rice, and broken rice.

Companies wishing to export, or re-export rice must submit a request to the Ministry of Economy to obtain an export permit outside the country.

The permit would be issued “provided that the request is supported by all documents that help verify the data related to the shipment to be exported in terms of origin, the date of the transaction, and any other requirements that the ministry may require in this regard,” the statement added.

The ministry added that the permit to export rice products would be valid for 30 days and must be submitted to customs authorities, in order to complete procedures. Requests can be submitted online or directly at the headquarters of the Ministry of Economy.

The ministry said the decision can be extended automatically unless a decision is issued to cancel its implementation.

India had banned exports of non-basmati white rice in an effort to control rising prices and boost availability to Indian consumers.

From April to June this year, India’s exports of white rice except basmati rice rose by 35 percent.



China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

 A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
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China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

 A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)

Efforts will continue in 2025 to stabilize and prevent further declines in China's real estate market, China Construction News reported, citing a work conference held by the housing regulator on Tuesday and Wednesday.

China will vigorously promote the reform of the commercial housing sales system, and expand the scope of urban village renovation beyond the addition of 1 million units, the report said.

China will strictly control the supply of commercial housing, while increasing the supply of affordable housing to help solve the living problems of a large number of new citizens, young people and migrant workers, it said.

Policymakers have stepped up efforts to revive the real estate by introducing new measures to encourage home demand after a government-led campaign to rein in highly leveraged developers triggered a crisis in 2021.

Since September, measures aimed at encouraging homebuying have included cutting mortgage rates and minimum down-payments, as well as tax incentives to lower the cost of housing transactions.

The real estate market has shown some momentum of stabilizing, with home transactions in October and November seeing year-on-year and month-on-month growth for two consecutive months, said the conference.

China's home prices fell at the slowest pace in 17 months in November, supported by government efforts to revive the sector, official data showed.

An official of the Central Financial and Economic Affairs Commission in December called for policy measures with direct impact on stabilizing the real estate market to be adopted as soon as possible, with local governments getting greater autonomy to buy housing stock.