India bans export of non-basmati white rice
India has banned the export of non-basmati white rice to prevent rising domestic prices.
In a statement made by India’s Ministry of Food and Consumer Affairs, it was stated that overseas sales of non-basmati white rice will be stopped immediately.
“Domestic rice prices are on an upward trend. Retail prices have increased by 11.5% in the last year.” In the statement that uses the expression, it was emphasized that the heavy rains damaged the harvest in the country.
In India, the world’s largest rice exporter, non-basmati rice accounts for about 25 percent of total rice exports.
Experts warned that this decision could increase world food prices.
Non-basmati rice is generally exported to Asian and African countries.
CALL FOR THE SUPPLY OF DOMESTIC RICE FROM VIETNAM
India’s decision to cut rice exports was also echoed on the Vietnamese side.
“India’s move to reduce rice exports will affect the world rice market,” Vietnam’s Ministry of Industry and Commerce said in a statement. expression was used.
The authorities called on the country’s food union to ensure an adequate local supply of rice and food safety.
Vietnam is the third largest rice exporter in the world after India and Thailand. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
