El Nino Weather Phenomenon Hampers Rice Production, Driving Up Prices
Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him.
Stay updated with breaking news from Export Ban. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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. India's 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. India's 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 India's 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.