India on late Thursday imposed an immediate ban on the exports of non-basmati white rice.
The move, announced by the Ministry of Consumer Affairs, is aimed at ensuring sufficient availability of non-basmati white rice within the country while curbing the rise in domestic market prices.
As the world’s leading rice exporter, responsible for over 40% of global rice trade, and the second-largest rice producer, trailing only behind China, India’s decision could have significant repercussions on the global rice market.
Experts warn that the ban may exacerbate the already elevated prices, compounding the effects of the country’s previous ban on shipments of broken rice in September.
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