Reuters: India imposes major rice export ban, triggering inflation fears
NEW DELHI: India on Thursday ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world's largest exporter of the grain, triggering fears of further inflation on global food markets.
The government said it was imposing a ban on non-basmati white rice after retail rice prices climbed 3 per cent in a month after late but heavy monsoon rains caused significant damage to crops.
India accounts for more than 40 per cent of world rice exports, and low inventories with other exporters mean any cut in shipments could inflate food prices already driven up by Russia's invasion of Ukraine last year and erratic weather.
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WNU Editor: India is responsible for approximately 40% of the world's rice exports. Some variants will still be exported, but 25% of the world's rice production is now off the global markets. This is a nightmare situation for third world countries that will get worse if this ban is permanent. If you think the immigration crisis is bad now, you have seen nothing yet.
Update: India’s rice export ban comes amid ‘perfect storm’ with Black Sea wheat crisis, El Nino (see video below).
India Imposes Rice Export Ban
Top rice supplier India bans some exports -- AFP
India’s rice export ban could send decade-high prices spiking even further -- CNBC
India triggers inflation fears after imposing major rice export ban -- CNN
Rice prices set to climb further after India export ban, trade at standstill -- Reuters
India's latest rice export ban could spell long-term trouble for US -- Agri-Pulse
India’s Rice Export Ban Could Drive Global Food Prices Even Higher—Here’s What You Need To Know -- Forbes
7 comments:
1000 pounds of rice 4 me i got
According to data from the U.S. Department of Agriculture, China is expected to have 69% of the globe's maize reserves in the first half of crop year 2022, 60% of its rice and 51% of its wheat.
https://asia.nikkei.com/Spotlight/Datawatch/China-hoards-over-half-the-world-s-grain-pushing-up-global-prices
Reminder that Biden is DUMPING our strategic stockpiles in order to manipulate prices by a matter of pennies. The rest of the developed world is doing the opposite.
oh boy
small space planet earth
Biden dumping strategic supplies of oil to lower prices...show us evidence that he is dumping "rice supplies" or whatever it is you are ranting about.
Trump versus Biden, two weeks before the election. Here is the post:
https://archive.ph/D6YW7
India also put in place a similar ban last time they projected a bad harvest, and they will likely lift it when the next good harvest comes in. India is temperate, farmers grow 2 crops per year of rice, I was told by an Indian guy at work who used to farm in India.
So this is not a permanemt thing, unless they have several bad harvests in a row, which is possible, but not probable.
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