News

India brings disaster, rice prices can rise

Rice
India
Published Jul 30, 2023

Tridge summary

India has banned the export of non-basmati white rice in an effort to control high food prices. This decision, made by the world's largest rice exporter, has the potential to tighten global rice supplies and increase prices. Bangladesh, Nepal, and other countries heavily dependent on Indian rice imports will be the most affected, and may turn to alternative suppliers in the region such as Thailand and Vietnam.
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

Jakarta, CNBC Indonesia - It is known that the Indian government has closed the non-basmati white rice export faucet that took effect last week, Thursday (20/7). This was done as an effort to control high food prices. The Ministry of Consumer Affairs in India said a ban on rice exports would help ensure a steady supply of non-basmati white rice in India. In fact, India is the world's leading rice exporter and accounts for more than 40% of global rice trade, and is the second largest producer after China. India's policy then has the potential to make prices that are already high soar even more. "Global rice supplies will tighten drastically as India is the world's second largest producer of the staple food," said Eve Barre, ASEAN economist at trade credit insurance company Coface. Bangladesh and Nepal will be hit the hardest by the ban, as they are major export destinations. The ban could also exacerbate food insecurity for countries heavily dependent on rice, agricultural ...
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