INDIA'S RICE CURBS COULD PUSH PRICES UP

The ban could have implications for China, Malaysia, the Philippines, Indonesia, and various African nations

Rice prices are expected to surge as India, the top exporter of rice, has imposed a ban on a significant portion of its rice shipments. This move adds further pressure to global food markets, which have already been impacted by adverse weather conditions and the conflict in Ukraine. The ban applies to shipments of non-basmati white rice and is aimed at controlling domestic prices.

The price increase of rice, a staple food for billions in Asia and Africa, could lead to inflationary pressures and higher import bills for buyers. The restriction comes at a time when concerns are mounting over the impact of the El Niño weather pattern, rising temperatures in Europe, and attacks on Ukrainian export facilities.