Bangladesh
Indian Rice Exports After wheat and sugar, India may stop exporting rice
Own Correspondent, Dhaka, May 27: After imposing a ban on wheat exports and restricting sugar exports, India may impose restrictions on rice exports at any time, experts said.
It is feared that the global situation could worsen if India stops or restricts rice exports amid the ongoing global food crisis caused by the Coronavirus pandemic and the Russia-Ukraine war.
According to a report in The Economic Times on Thursday (May 26), the Indian government may restrict rice exports to ensure adequate supply in the local market as well as to prevent inflation. A committee headed by the Indian Prime Minister's Office is analyzing the market situation of each of the essential commodities, including non-basmati rice, and is expected to take immediate action if there are any signs of price rise, an official said on condition of anonymity.
Radhika Piplani, an economist at Yes Bank of India, says the Indian government has already imposed restrictions on wheat exports. It is only a matter of time now to consider restrictions on rice exports. However, it remains to be seen whether such restrictions would reduce food prices and how long it would take.
No comment on the possibility of imposing restrictions on rice exports has been received from Indian Ministry of Food and Trade yet. India is second in the world in rice production and first in export. In the fiscal year 2021-22, the country exported a total of 39 lakh 50 thousand tonnes of aromatic basmati rice. At the same time, their non-basmati rice exports were about 1 crore 72 lakh 60 thousand tonnes.
