Days after Russia pulled out of the Black Sea grain deal, risking further global food inflation, the government on Thursday banned the export of non-basmati white rice in a bid to check rising prices.
Mint on 18 July reported large companies, traders and exporters are rushing to secure letters of credit (LCs) for future shipments, fearing that rising prices may trigger export curbs on some varieties of non-basmati rice.
“Export policy of non-basmati white rice (semi-milled or wholly milled rice, whether polished or glazed)...is amended from free to prohibited," the DGFT said in a notification.
The International Monetary Fund had warned that Russia’s exit from a deal allowing Ukrainian grain shipments via the Black Sea threatens to increase global food insecurity and could drive food prices higher, especially in low-income countries.
この記事は Mint Mumbai の July 21, 2023 版に掲載されています。
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