Despite a ban on rice exports, India continues to export to strategic neighboring countries and the wider Asean region under bilateral arrangements, with rice export to South Asian countries totaling $567 million in the first eight months of the 2023-24 fiscal year. The government is facilitating these exports through the National Cooperative Exports Ltd, and industry leaders have praised the government for keeping domestic prices in check and providing food to neighboring countries. The ban on rice exports was imposed due to reduction of public stock in the Central pool, resulting in a rise in prices, but after the ban, rice prices rose significantly in the global market.