‘Rice apocalypse’ in India claims new victim, the USA
Published Jul 31, 2023
India's ban on non-basmati rice exports has caused panic buying in the US, with consumers in Texas stockpiling rice to avoid shortages and potential price increases. India implemented the ban to ensure domestic availability and restrain domestic inflation. The ban has also affected other countries, including Singapore, and is expected to exacerbate the global food crisis amid rising inflation.
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Jakarta, CNBC Indonesia - The non-basmati rice export ban policy announced by India two weeks ago has taken a new victim. This makes panic buying in a number of markets in the United States (US). In Texas, as NBC reported over the weekend, consumers suddenly made large purchases to avoid shortages and potential price increases (inflation). Over the weekend, this was seen in stores in Dallas-Fort Worth where customers reportedly emptied shelves and waited in long lines to stockpile rice. "They really want to buy ten, 12, 15 bags," said Anand Pabari, owner of India Bazaar, a South Asian grocery store there, quoted Monday (31/7/2023). "It was an absolutely crazy situation," he said. Please note, India is the world's largest rice exporter. The country has banned some overseas sales of non-basmati rice, which accounts for about 25% of its main exports, since last Thursday. India's ministry of consumer affairs and food said the export ban was a measure to ensure domestic availability. ...