India imposes a ban on rice exports

The Indian government has decided to ban rice exports from the country starting July 20. The reason for the ban on white rice exports (not basmati) was a sharp increase in domestic prices for this crop by 3% over the past month, after heavy monsoon rains severely damaged crops. In general, during the year, prices for white rice in the country increased by 11.5%.

It is worth noting that India accounts for 40% of the world’s rice exports, so any reduction in supplies amid low rice stocks in other exporting countries could lead to a significant increase in food prices, which have already risen amid unstable weather conditions and the war in Ukraine.

As a reminder, in 2022, India exported 22 million tons of rice, of which the share of white rice was approximately 10 million tons.

At the same time, it is reported that the ban will not apply to the export of steamed rice, which last year was supplied to world markets in the amount of 7.4 million tons.

Tags: India, restrictions, rice