India bans export of most varieties of rice – Kommersant

The Indian government has decided to ban the export of most varieties of rice. Reuters. We are talking about all varieties except Basmati. Thus, the ban covers approximately 80% of the country’s exported rice. The decision is effective from today.

The reason for the ban was the fall in the crop due to extreme weather conditions. In particular, the traditional rainy season this year began much later than usual, which led to the loss of part of the crop due to lack of water. The drought last week was replaced by incessant downpours, which only exacerbated the situation.

Earlier it was reported that the crop was also affected due to bad weather. tomatoeswhich, due to shortages, are now more expensive than gasoline. Rice is also becoming a scarce commodity, and the government has to raise its purchase prices to compensate farmers for losses. Retail prices for rice in Delhi this year increased by 15%, and the national average – by 8%. An export ban could help drive down prices in the country, but push prices up outside of India.

India’s share in world rice trade is about 40%, the country supplies this product to more than 100 countries of the world, and its largest customers are China, Benin, Senegal, Côte d’Ivoire and Togo.

Kirill Sarkhanyants