India has imposed a ban on rice exports

The Indian government has decided to ban the export of rice from the country from July 20, Reuters reports.

The reason for the export ban on white (non-basmati) rice was a sharp 3% rise in domestic prices for the crop over the past month, after heavy monsoon rains badly damaged crops. In general, during the year, the prices of white rice in the country increased by 11.5%.

It is worth noting that India provides 40% of the world's rice exports, so any reduction in supplies against the background of low rice stocks in other exporting countries can lead to a significant increase in food prices, which have already risen in price against the background of unstable weather conditions and the war in Ukraine.

We will remind that in 2022, India exported 22 million tons of rice, of which the share of white rice was approximately 10 million tons.

At the same time, it is reported that the ban will not apply to the export of parboiled rice, of which 7.4 million tons were delivered to world markets last year.