World: 3 countries still ban rice exports

Published Apr 5, 2024

Tridge summary

Due to extreme global weather conditions and the El Nino phenomenon, three countries have announced they will extend their rice export bans into 2024, adding to the six countries, including India and Russia, that imposed bans in 2023. This has significantly impacted global rice prices, with Thailand and Vietnam seeing increases of 28% and 41.9%, respectively. In response, governments like Indonesia are providing rice aid and social assistance to their citizens to alleviate the effects of these bans and the broader food crisis exacerbated by climate change. Similar measures are being adopted by other nations, including India, the Philippines, and the US, to ensure food security for their populations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia - Coordinating Minister for Economic Affairs Airlangga Hartarto revealed that three countries in the world are still continuing the policy of banning rice exports in 2024. Unfortunately, Airlangga did not specify the list of countries. He only revealed that six countries would ban rice exports in 2023. These six countries are namely. India, Russia, Bangladesh, Myanmar, UAE and Uganda. "Three countries will continue in 2024," stressed Airlangga at the Constitutional Court hearing, Friday (5/4/2024). Airlangga explained that conditions were increasingly pushing up world rice prices. The price of rice in Thailand reached US$ 624 per ton, an increase of 28 percent. He added that the price of rice in Vietnam also rose to US$ 614 per ton, an increase of 41.9%. Meanwhile, this export ban is suspected to be due to extreme global weather conditions which suppress rice production. BMKG and several global climate centers predict that El Nino will last until December ...

Source: Cnbcindonesia