IMF chief economist Pierre-Olivier Gourinchas warned on Tuesday grain prices could rise 10 to 15 percent this year as a result of India s rice export ban.
Global rice importers are likely to seek direct deals with governments in exporting countries as India s ban on shipments of a key variety is squeezing supplies and igniting concerns over food.
Global rice importers may seek direct deals with governments in rice-exporting countries after India s ban on non-basmati white rice exports caused concern over food security. The ban will reduce supplies on world markets by around 20%, sparking worries among buyers from Africa to Asia. This restriction will likely lead to the need for more government-to-government deals to overcome shortages and control rising prices.
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