farmers. this ban will finish us he says. the southeastern nation accounts for 340r7b 40% of world rice exports globally. and rice stocks are piling up. the export ban has left traders with huge amounts of stock. we now have to find new buyers of the domestic market i m told. many of the world s poorest countries depend on imports of indian rice. economists warn a prolonged ban could leave the most vulnerable people with even less to eat. global food prices have soared to a near 12 year high according to the united nations food agency. new delhi s ban comes after russia s targeting of grain shipments driving up grain prices across the world. poor people in west africa
Bhutan has requested India to allow rice export to the country after India banned overseas shipments of non-basmati rice, causing global rice prices to rise. Bhutan has made a diplomatic request for rice shipments of up to 90,000 tonnes. India s rice ban allows for exemptions for export under government-to-government deals and in cases of requests made by friendly countries with genuine food-security needs. India s share in global rice exports is nearly 40%. | Latest News India
Agricultural economist and NITI Aayog member Ramesh Chand has stated that India can export 20-22 million metric tonnes (MMT) of rice without any impact on domestic food security. The government has banned non-basmati white rice exports because the global demand had skyrocketed, and there was concern India could end up exporting over 30 million tonnes.
Rice exporters have approached the commerce ministry over the ban on the export of non-basmati rice, saying that many of them have letters of credit from foreign buyers and if they do not fulfil the contracts, they could face international arbitration. Failing to fulfil export commitments could also hurt India s image in the global markets, they said.