- July 21, 2023
- Posted by: admin
- Category: Daily News
- The world’s biggest rice exporter India has banned some overseas sales of the grain “with immediate effect”, the government said, in a move that could drive international prices even higher.
- India would ban exports of non-basmati white rice – which accounts for around a quarter of its total – the consumer affairs and food ministry said.
- The move would “ensure adequate availability” and “allay the rise in prices in the domestic market”, it said in a statement.
- Global demand saw Indian exports of non-basmati white rice jump 35% year-on-year in the second quarter, the ministry said.
- India exported 10.3 million tonnes of non-basmati white rice last year while alternative suppliers did not have spare capacity to fill the gap.
- The developing El Nino phenomenon, which tends to impact India and other Southeast Asian rice-producing countries, has added to this brewing “perfect storm”.