What will be the impact of India’s rice-export ban?
Global rice prices will soar, and poor countries will bear the brunt
FEW THINGS frighten governments as much as hungry voters. In India, after heavy rains in early July wiped out paddy fields, officials acted to pre-empt an unpalatable increase in rice prices. On July 20th the government banned the export of non-basmati white rice to “ensure adequate domestic availability at reasonable prices”. Last year, for similar reasons, it slapped export duties on all types of rice and blocked exports of broken rice grains, which are sold cheaply. Policymakers hope that keeping more of the staple in India will drive down domestic prices, which have risen by nearly 12% over the past year. But what about the rest of the world?
From the July 29th 2023 edition
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