The Indian government on Thursday banned the export of non-basmati white rice.
India alone accounts for over 40% of world rice exports.
Thus, this measure could have serious consequences for world prices.
The Indian government on Thursday banned the export of non-basmati white rice.
India alone accounts for over 40% of world rice exports.
Thus, this measure could have serious consequences for world prices.
To a jump in prices on the world market? India, the world’s largest rice exporter, on Thursday, July 20, banned the export of non-Basmati white rice.with immediate effect”, while the country alone represents over 40% of world exports.
A decision announced by the government that could lead to higher prices on the world market and “the risk of exacerbating food insecurity in other countries dependent on these imports”, indicates in a note to Gro Intelligence, which analyzes data on raw materials.
measure to allow “guarantee” supply “adequate” for Indian consumers and “soften the rise in prices in the domestic market”This is stated in a statement by the Ministry of Consumer Affairs and Food of India.
India has already banned certain types of exports and imposed a 20 percent tax.
The Indian government is not making the first attempt. In September, after a severe drought in its main producing regions, India had already banned the export of broken rice (at a lower price, with or without accidental broken grains) and imposed a 20 percent tax on top quality rice.
Indian non-basmati white rice exports account for about a quarter of total rice exports.
In the second quarter, Indian non-Basmati white rice exports even jumped 35% year-on-year. Last year, the country exported 10.3 million tons.
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