Staff Writer
India, the top exporter of non-basmati white rice, outlawed its imports in order to keep domestic prices stable before the general election that is scheduled for early 2024.
According to a statement from the Directorate General of Foreign Trade, the government immediately stopped selling the grain abroad, corroborating a July 13 Bloomberg article.
According to the statement, shipments will be permitted depending on permission given by the Indian government to other nations in order to meet their demands for food security and based on requests from those governments.
Although the action may lower domestic prices for the staple, it also increases the risk of future increases in worldwide prices at a time when the return of the El Nio weather pattern is already causing worries about crop losses.
