Exciting India bans rice-sugar exports, here's the effect on Indonesia

Jakarta, CNBC Indonesia - The Central Statistics Agency (BPS) notes that there is a trend of countries in the world implementing restrictions or bans on food exports that will take effect throughout 2023. Commodities whose exports are prohibited or restricted are rice, sugar, corn and wheat. Acting Head of BPS Amalia Adininggar Widyasanti explained that the rice export ban was implemented by India, Russia and Bangladesh as well as Uganda. From BPS records, India has implemented restrictions since July 2023, while Uganda, Russia and Bangladesh have implemented restrictions since June 2023. Meanwhile, those with restrictions on corn exports are Russia, Belarus, Kosovo, Uganda and Serbia. And, wheat export restrictions by India, Kosovo, Afghanistan and Russia. Prohibitions and restrictions on the export of a number of food commodities have resulted in tightening supplies to the global market. This also triggers a psychological effect on the market, where countries compete to open ...