Rice exporters in Pakistan are optimistic about the prices of Thai rice in the global market, expecting them to remain high in the first half of this year. This optimism is due to India’s ban on white rice exports, which has limited competition.

Thailand’s rice exporters anticipate strong rice prices in the coming months due to India’s ban on white rice exports. Global prices are expected to reach $600 per tonne, driven by robust demand from countries like Indonesia. Thailand predicts shipments of around 7.5 million tonnes this year.

The global rice market faces a severe crisis as India’s export ban causes prices to soar by 15 to 20%, reaching their highest levels in over a decade. This not only affects consumers but also raises concerns about food security and the livelihoods of farmers worldwide.

The government is taking steps to monitor and reduce rice rates, while launching Bharat Rice at Rs 25 per kg to ensure affordability. Export restrictions on wheat, broken rice, and sugar are in place, and the government has introduced Bharat brand flour and split chickpeas at subsidized rates. Food security is a top priority for the government of India.

India’s unexpected export bans on rice have triggered a global rice crisis, threatening food security for developing nations heavily reliant on India’s rice exports. This has led to skyrocketing rice prices, impacting consumers in developing countries and causing challenges for US rice farmers. Can India find a balance between domestic needs and global trade responsibilities? Source: BNN Breaking News.

India’s export bans on rice have intensified the global rice shortage, raising concerns about food security in developing nations. The bans, driven by India’s food insecurity, have led to a 28% increase in rice prices and impacted farmers worldwide. The world awaits India’s next move to address this crisis.

Pakistan’s agriculture sector, contributing 22.9% to its GDP, has seen a 13% rise in agricultural exports, reaching $5.2 billion in 2023-24. To further develop the sector, comprehensive reforms focusing on technology adoption, irrigation infrastructure, market access, and farmer support are necessary. These reforms will enhance competitiveness, productivity, and exports, leading to economic growth.

India has decided to retain export curbs on wheat, rice, and sugar to ensure availability and control prices domestically. However, the government has been exporting rice to support friendly nations’ food security needs. The move has received mixed reactions from economists, with some welcoming it to address inflation challenges, while others advocate for a more rational trade policy. Retail inflation in India reached a four-month high of 5.69% in December 2023.

India’s export bans on rice have caused a global crisis, with prices soaring and rice farmers struggling. Efforts to alleviate the situation include funding for US farmers and proactive measures by the Indonesian government to prevent a food crisis.

Pakistan’s agriculture sector contributes 22.9% to the GDP, with agricultural exports reaching $5.2 billion in 2023-24. To enhance competitiveness and productivity, reforms such as technology adoption, irrigation infrastructure improvement, market access improvement, and farmer support are crucial, says Tariq Sultan, a scientist at NARC.