7:18 AM Thursday, June 13, 2024
7:18 AM Thursday, June 13, 2024
India Bans Export of Non-Basmati White Rice

India Bans Export of Non-Basmati White Rice

Impact of the Ban on the Global Rice Market

by IET
The Government of India bans export of non-basmati white rice. The ban was imposed in an effort to control rising prices of rice in the domestic market.

India is the world’s largest producer of rice, and non-basmati white rice is one of the country’s most important exports. The ban is expected to have a significant impact on the global rice market, as India is a major supplier of non-basmati white rice.

The ban was imposed following a meeting of the Cabinet Committee on Economic Affairs (CCEA). The CCEA said that the ban was necessary to “ensure the availability of adequate food grains for domestic consumption.”

The ban will be in effect for six months, and it will be reviewed after that time. The government has said that it will consider lifting the ban if prices of rice in the domestic market stabilize.

The ban has been met with mixed reactions from the trade. Some exporters have welcomed the ban, saying that it will help to protect domestic prices. Others have criticized the ban, saying that it will hurt the export-oriented rice industry.

The impact of the ban on the global rice market is still unclear. However, it is likely to lead to higher prices of non-basmati white rice in the international market. This could benefit other rice-producing countries, such as Thailand and Vietnam.

The ban is also likely to have a ripple effect on other food prices. Rice is a staple food for millions of people around the world, and the ban could lead to higher prices of other food items, such as wheat and corn.

The government has said that it is committed to ensuring the availability of food grains for domestic consumption. However, the ban on the export of non-basmati white rice is a sign that the government is also concerned about rising prices of food.

The ban is a temporary measure, and it is likely to be lifted if prices of rice in the domestic market stabilize. However, the ban is a reminder that the government is willing to take steps to control food prices, even if it means disrupting the global rice market.

India – the world’s biggest rice exporter – banned overseas shipments of broken rice and imposed a 20% duty on exports of various other grades in September 2022 amid concerns over production.

B.V. Krishna Rao, president of the Rice Exporters Association (REA) said a government move to increase paddy procurement price had been pushing up rates. “But, the government is holding more stocks than needed for welfare schemes. There is no need to restrict exports,” he told Reuters.

Impact of the Ban on the Global Rice Market

The ban on the export of non-basmati white rice from India is likely to have a significant impact on the global rice market. India is a major supplier of non-basmati white rice, and the ban is expected to lead to higher prices of rice in the international market.

The ban is also likely to benefit other rice-producing countries, such as Thailand and Vietnam. These countries are likely to see an increase in demand for their rice, as buyers look for alternative suppliers to India.

The ban is a temporary measure, and it is likely to be lifted if prices of rice in the domestic market stabilize. However, the ban is a reminder that India is a major player in the global rice market, and its policies can have a significant impact on prices.

Way Forward

The government of India should work with other rice-producing countries to ensure that the global rice market is stable. The government should also take steps to improve the efficiency of the domestic rice market, so that it can better meet the needs of consumers.

The government should also consider providing subsidies to rice farmers, to help them cope with rising production costs. This would help to ensure that the supply of rice in the domestic market is adequate, and that prices remain stable.

 India Bans Export of Non-Basmati White Rice Notification-English

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2 comments

Quantitative Restrictions Demystified – ImportExportTalk.com 2 August 2023 - 18:39

[…] India Bans Export of Non-Basmati White Rice […]

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India's export share in world trade 2022 – ImportExportTalk.com 16 August 2023 - 00:49

[…] India Bans Export of Non-Basmati White Rice […]

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