India will continue to ban rice exports

Regulation & Compliances
Market & Price Trends
Published Feb 6, 2024

Tridge summary

In response to rising rice prices and potential global shortages, the Indian Government has requested all rice traders, wholesalers, retailers, and processing and milling factories to disclose their current rice stock. This move aims to control food price inflation and prevent unethical speculation. Additionally, the government plans to distribute 500,000 tons of rice at stable prices and implement a program to provide free rice and wheat to approximately 800 million impoverished individuals in the country.
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

Source: The above information is the latest statement from the Indian Government, in the context of the country's rice prices continuing to increase by about 15% on both wholesale and retail markets. This increases the risk of global rice shortages. In the latest statement, the Indian Ministry of Food and Public Distribution has asked all traders, wholesalers, retailers, as well as rice processing and milling factories in all states to declare rice data in stock today. The Indian government emphasized that this is a necessary step to manage the current food price inflation and prevent unethical speculation, including rice products. The Indian government has taken a series of strong measures to control rice prices, including banning the export of non-Basmati white rice and imposing a floor export price on Basmati rice. However, the country's domestic rice price is still increasing. In a step to control food prices more strongly, the Indian Government has decided to provide ...
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