Page 9 - Export Ban News Today

Region’s millions depend on rice for 50% to 70% of their calorie intake.

GOPENG, Sept 23 — The Science, Technology and Innovation Ministry backs the government’s proposal to ban the export of rare earth raw materials, a move that would guarantee...

The Chinese step is a retaliation to US sanctions on the export of chips and chip-making technology to China. But can it sustain the loss of exports?

Food prices: The United Nations Food and Agriculture Organization (FAO) reported that its world price index for food fell to a two-year low in August. The decline was driven by decreases in most food commodities, although rice and sugar prices increased. The overall index was 24% lower than its all-time high in March 2022.

Rice Export Restrictions: Existing contracts below $1,200 per tonne have been kept in abeyance

Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him.

Bhutan has requested India to allow rice export to the country after India banned overseas shipments of non-basmati rice, causing global rice prices to rise. Bhutan has made a diplomatic request for rice shipments of up to 90,000 tonnes. Indias rice ban allows for exemptions for export under government-to-government deals and in cases of requests made by friendly countries with genuine food-security needs. Indias share in global rice exports is nearly 40%. | Latest News India

Agricultural economist and NITI Aayog member Ramesh Chand has stated that India can export 20-22 million metric tonnes (MMT) of rice without any impact on domestic food security. The government has banned non-basmati white rice exports because the global demand had skyrocketed, and there was concern India could end up exporting over 30 million tonnes.

Rice exporters have approached the commerce ministry over the ban on the export of non-basmati rice, saying that many of them have letters of credit from foreign buyers and if they do not fulfil the contracts, they could face international arbitration. Failing to fulfil export commitments could also hurt Indias image in the global markets, they said.

You probably don’t need to run to the store to stock up on this essential grain—here’s all you need to know about how a global rice shortage could impact you.