Russia suspends rice exports until the end of the year to support the domestic market

On July 29, Russia announced to suspend rice exports until the end of the year to support the domestic market. The Russian government's Telegram page stated: "The government has temporarily banned exports of rice raw and processed rice. The restriction will be in effect until December 31, 2023 and the decision has been made to maintain stability in the domestic market." Russia is famous for wheat , but rice is still grown, mainly in the southwestern regions of the country, near the borders with Azerbaijan, Georgia and Kazakhstan. In addition, there is a small share of production in Eastern Russia along the borders with China and North Korea. About 73% of Russian rice production is grown in the Krasnodar region. On the same day, Philippine President Ferdinand Marcos Jr. said the country needs to boost rice stocks and he will likely seek a supply deal with India, due to concerns about the potential impact of El Nino weather on the crop and other suppliers. . Speaking to officials ...