India's rice export restrictions since August 2022 contribute to global supply shortage and rising rice prices.
India's rice export restrictions since August 2022, including a ban on broken rice exports and additional duties on non-basmati white rice outflows, have tightened global supplies, causing global rice prices to rise. As the world's largest rice exporter, India's measures have led to Asian exporters anticipating a surge in rice prices ahead of Indonesia's state purchasing agency Bulog's tender in May. Bulog has set an import quota of 3.6 million metric tons for 2024, down from last year's 3.8 million metric tons due to dry conditions attributed to the El Nino weather pattern.
May 07, 2024
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