The rice apocalypse increasingly threatens the earth: India's actions drag Indonesia to limit exports

Jakarta, CNBC Indonesia - The rice "apocalypse" is increasingly threatening the earth. After India, Indonesia's neighbors also announced limiting rice exports. Myanmar plans to limit rice exports to control rising domestic prices. An official with the rice industry body said rising domestic prices prompted authorities to restrict exports. "We will temporarily limit rice exports for around 45 days from the end of this month," said a senior member of the Myanmar Rice Federation last Friday, as reported by Reuters, quoted on Wednesday (30/8/2023). Based on data from the United States Department of Agriculture (US), Myanmar is the fifth largest rice exporter in the world. The country sells more than 2 million metric tons per year. "Myanmar is not a big player in the rice market like India or Thailand, but these restrictions come at a time when supplies are getting tight," said a trader who owns a Mumbai-based global trading house. "This will send a bullish signal to the market and ...