World: Effects of the export ban of Indian rice everywhere
Published Aug 3, 2023
India's ban on non-basmati rice exports is expected to impact several countries heavily dependent on rice imports. According to Barclays, Malaysia is particularly vulnerable due to its significant reliance on India for rice supply. Singapore and the Philippines are also likely to be affected, with both countries taking measures to mitigate potential shortages and price increases. Panic buying has already been witnessed in Canada and the United States, as consumers rush to stockpile rice and avoid potential scarcity.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Jakarta, CNBC Indonesia- It is believed that the significant impact of the ban on rice exports by India will affect many countries. Previously on July 20, India banned exports of non-basmati rice in order to maintain supply and stem price increases (inflation) in the country. India is one of the world's major rice exporters. Non basmati rice contributes 17% of the total 40% of India's rice exported to the world today. "(India's move) risks exacerbating food insecurity in countries heavily dependent on rice imports," data analytics firm Gro Intelligence said in a note. Then which countries are estimated to be affected and have been affected? The following data is summarized by CNBC Indonesia, Thursday (3/8/2023). Barclays' latest report Wednesday, mentions the potential of Malaysia as one of the countries seriously affected. This is due to its very significant dependency on India. "Malaysia appears to be the most vulnerable according to our analysis," said the Barclays report ...