MUMBAI: The world's biggest rice exporter India has banned some overseas sales of the grain 'with immediate effect', the government said, in a move that could drive international prices even higher. Rice is a major world food staple and prices on international markets have soared to decade highs as the wor
MUMBAI: The world's biggest rice exporter India has banned some overseas sales of the grain"with immediate effect", the government said, in a move that could drive international prices even higher.
The move would"ensure adequate availability" and"allay the rise in prices in the domestic market", it said in a statement on Thursday . Global demand saw Indian exports of non-basmati white rice jump 35 per cent year-on-year in the second quarter, the ministry said. "Typically the major exporters are Thailand, Vietnam, and to some extent Pakistan and the US," he told AFP."They won't have enough supply of rice to replace these."
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