India’s Reduced Rice Production Leads to Prolonged Restrictions on Exports
Published on: November 1, 2023.
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India’s restriction on non-basmati white rice exports has led to a global surge in prices, sparking concerns among farmers and traders. The country, which is the world’s largest rice exporter, has seen weaker production and high domestic prices. The ban on exports, which account for 40% of global rice trade, has impacted governments and consumers across Asia and Africa who are struggling to secure supplies of the staple. Low inventories in other major exporting countries like Thailand, Vietnam, Pakistan, and Myanmar could further inflate food prices if export curbs continue.
Despite hopes that restrictions might be lifted, a senior government official revealed that India has no plans to lift the ban on any rice grades in the near future. Farmers, however, are experiencing mixed results due to heavy rain benefiting some areas while damaging fields elsewhere. BV Krishna Rao, president of the Rice Exporters Association, expects a smaller drop in production of around 2-3%.
The impact of India’s rice export ban has far-reaching consequences, not only affecting global rice prices but also raising concerns about food security in many countries. With inventories running low in key exporting countries, the situation remains uncertain. Farmers and traders are anxiously waiting for any change in the export restrictions, hoping for relief from the surging prices and potential food shortages.
Source: [https://headtopics.com](https://headtopics.com)
