India restricts its rice exports, which could cause a humanitarian disaster

By: Trademagazin Date: 2022. 09. 13. 11:37

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India is also limiting its rice exports, after both exports and domestic prices increased due to the rise in world market prices in the recent period. India, the world’s second largest producer of wheat, already banned the export of the cereal from the country in May, Portfolio wrote following Reuters.

Grain exports have already been restricted

India on Thursday banned the export of broken rice and imposed a 20 percent duty on exports of different types of rice. The world’s biggest rice exporter is trying to boost domestic supply and contain local price increases after below-average monsoon rains hampered the next planting season.

According to Sudhanshu Pandey, head of the Ministry of Consumer Affairs, Food and Catering, the price of broken rice in the country has increased by 38 percent so far this year.

The complete material can be found on Portfolio…