02-08-2023, 03:11 PM
PUBLISHED TUE, AUG 1 20239:56 PM EDT
Lee Ying Shan
India’s rice export ban could ripple across global rice markets — and millions are expected to be impacted, with Asian and African consumers set to bear the biggest brunt.
India, the world’s largest rice exporter, banned the exports of non-basmati white rice on Jul. 20, as the government sought to tame surging domestic food prices and “ensure adequate domestic availability at reasonable prices.”
The country accounts for more than 40% of the global rice trade.
“Malaysia appears to be the most vulnerable according to our analysis,” Barclays said in a recent report, highlighting the country’s sizable reliance on Indian rice.
“It imports a substantial portion of its rice supply, and India accounts for a relatively large share of its rice imports,” the analysts wrote.
Singapore is likely to be affected as well, with the report showing that India makes up around 30% of the city state’s rice imports.
......
The country is currently in the midst of seeking exemptions from India’s ban.
https://www.cnbc.com/2023/08/02/indias-r...-east.html
Lee Ying Shan
India’s rice export ban could ripple across global rice markets — and millions are expected to be impacted, with Asian and African consumers set to bear the biggest brunt.
India, the world’s largest rice exporter, banned the exports of non-basmati white rice on Jul. 20, as the government sought to tame surging domestic food prices and “ensure adequate domestic availability at reasonable prices.”
The country accounts for more than 40% of the global rice trade.
“Malaysia appears to be the most vulnerable according to our analysis,” Barclays said in a recent report, highlighting the country’s sizable reliance on Indian rice.
“It imports a substantial portion of its rice supply, and India accounts for a relatively large share of its rice imports,” the analysts wrote.
Singapore is likely to be affected as well, with the report showing that India makes up around 30% of the city state’s rice imports.
......
The country is currently in the midst of seeking exemptions from India’s ban.
https://www.cnbc.com/2023/08/02/indias-r...-east.html