India’s rice export ban to further strain global good supplies
2 years, 6 months ago

India’s rice export ban to further strain global good supplies

Live Mint  

India banned exports of broken rice and levied a tax on other key varieties in a move that would add to global inflationary pressure and exacerbate food supply pains caused by the war in Ukraine. Global buyers are depending on India—the world’s top rice exporter—to shore up food supplies since Russia invaded Ukraine, a major wheat grower, which roiled global food markets. The rice export ban and new duties mark the third major move by India to restrict food exports, driven by worries about shrinking supplies and inflation. India’s move to ban some rice exports could have a material impact on Asian consumers, Nomura said in a note last month, as planting data raised concerns an export ban could be looming.

History of this topic

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