India bans white rice exports

Published Aug 4, 2023

Tridge summary

India, the world's largest rice exporter, has placed an immediate ban on the export of white rice, excluding basmati rice, due to concerns over securing supplies for domestic consumers and mitigating price increases in the domestic market. This decision has the potential to raise global rice prices as India accounts for a significant portion of white rice exports. Countries heavily dependent on rice imports, such as African countries, Turkey, Syria, and Pakistan, may experience food insecurity and sharp increases in food prices as a result of the ban.
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.

Original content

According to a report by Bahrain Gulf News on July 22, India, the world's largest rice exporter, announced an immediate ban on the export of white rice (except basmati rice), a decision that may lead to a rise in global rice prices. The ban should help secure supplies for Indian consumers and "mitigate price increases in the domestic market," it said in a statement late on Thursday. India's exports of white rice (excluding basmati rice) rose year-on-year in the second quarter, the report added. Growth of 35%. India bans cheap broken rice exports and imposes 20% tax on high-quality rice exports after severe drought in major rice-producing regions of India in September 2022. Due to COVID-19 pandemic, war in Ukraine, and El Niño weather phenomenon The impact on rice production, the international price of rice, the world's main staple food, has risen sharply. India's white rice exports (excluding basmati rice) account for about a quarter of its total rice exports. Last year, the country exported 10.3 million tons of African Basmati rice. Grow Intelligence warned that India's decision could "exacerbate food insecurity in countries heavily dependent on rice imports", with African countries, Turkey, Syria and Pakistan expected to be hit by the ban and face sharp increases in food prices.
Source: Foodmate
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