Rice: Rice prices are set to spike as India export curbs rock market
India Business News: India has banned shipments of non-basmati white rice, which was about 30 to 40 per cent of the nation’s total exports. The move may raise import bills
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India Business News: India has banned shipments of non-basmati white rice, which was about 30 to 40 per cent of the nation’s total exports. The move may raise import bills
(Bloomberg) -- Rice prices are set to surge after top exporter India banned a large chunk of shipments, adding to stresses on global food markets that have already been roiled by bad weather and the worsening conflict in Ukraine.Most Read from BloombergThe Bear Market Has Nearly Been Erased, Fewer Than 20 Months After It BeganPutin Warns Poland Over ‘Aggression’ Against Ally BelarusUS Recession Becomes Closer Call as Economists Rethink ForecastsWhy South Africa Is on the Brink of ChaosOil Trader
Rice prices are set to surge after top exporter India banned a large chunk of shipments, adding to stresses on global food markets that have already been roiled by bad weather and the worsening conflict in Ukraine.
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As Russia’s invasion of Ukraine helped push global agricultural prices to soaring heights, some Asian governments restricted the export of products they viewed as essential to domestic food security.