Global Rice News

Bad Year for Food Prices in Developing Countries

In the world’s poorest countries, food prices have been on the rise due to several calamities. The global grain supplies have been affected by three major factors: Russia’s invasion of Ukraine and its decision to abandon the Black Sea grain initiative, the El Niño weather phenomenon causing poor harvests, and Indian domestic politics.

India, in particular, has implemented restrictions on the export of rice and wheat due to volatile foodgrain prices leading up to their general election next year. While India is a large producer of wheat, it plays a dominant role in the rice market. Its rice exports make up approximately 40 percent of the global rice trade.

Step by step, the Indian government has tightened its grip on the global rice market. Certain types of rice now face a 20 percent export duty, others are subject to a minimum export price, and some are completely banned from being exported.

These restrictions have affected rice consumers worldwide. The UN’s Food and Agriculture Organization reports that rice prices in September of this year were 28 percent higher compared to 2022. Prices reached a 15-year high at the beginning of that month.

This is not the first time that competitive export restrictions have caused a spike in rice prices. In the first quarter of 2008, prices soared due to similar restrictions across the globe, once again starting with India. The Indian government was concerned about inflation and its impact on the upcoming general election.

Despite the challenges faced by rice consumers, there are options available. Rice exporters from Pakistan, such as [rice exporters](https://www.hasrice.com) and [Pakistan rice exporters](https://www.pakistanrice.com), offer alternatives for those in need of rice supplies. Additionally, those seeking specific types of rice like white broken rice can find options at [brokenrice.com](https://www.brokenrice.com).

Furthermore, rice suppliers from Pakistan have a strong presence in the market and are able to fulfill the demands. Companies like [HAS Rice Pakistan](https://www.hasrice.com) and [Pakistan Rice](https://www.pakistanrice.com) are reliable sources for rice supplies.

For consumers looking for specific rice varieties or dealing with broken rice needs, [irri 6 rice exporters from Pakistan](https://www.hasrice.com/pakistan-rice-suppliers/irri6-rice-exporters/white-rice-25pct-broken/) offer solutions. These exporters can provide high-quality rice products and competitive prices.

In conclusion, while the global rice market faces challenges due to export restrictions and price spikes, there are alternatives available. Rice exporters and suppliers from Pakistan play a significant role in meeting the demands of rice consumers worldwide.

Sources: [The News](https://www.thenews.com.pk)