India’s rice export ban to hurt millions globally.

[hin23leung]

I just read about this policy in the local news. I really like the Indian, but I think I have to pay more after that.

India’s rice export ban could ripple across global rice markets — and millions are expected to be impacted, with Asian and African consumers set to bear the biggest brunt.

India, the world’s largest rice exporter, banned the exports of non-basmati white rice on Jul. 20, as the government sought to tame surging domestic food prices and “ensure adequate domestic availability at reasonable prices.”

The country accounts for more than 40% of the global rice trade.

“Malaysia appears to be the most vulnerable according to our analysis,” Barclays said in a recent report, highlighting the country’s sizable reliance on Indian rice.

https://www.cnbc.com/2023/08/02/indi...ddle-east.html

[Morrison]

probably billions

[ArrynField]

Don't worry HK has a 2 month supply of rice……no need to stockpile.

https://www.thestandard.com.hk/break...tering-veteran

Naturally aunties and uncles rush to buy a years supply, which leads to higher prices and overall shortage.

Looking forward to see empty rice shelves at supermarkets and photo’s of homes stacked with mounds of rice

[ndt]

I suspect this is either knee jerk reaction after recent floods in north India or political for whatever reasons, India has more than sufficient rice reserve in public granaries so either way it should be temporary..

[hullexile]

Here the focus is on El Niño's impact on the Philippines and Vietnam where most of our rice imports come from.

[aquaman]

no more basmati rice here

[shri]

no more basmati rice here

To be fair .. basmati exports are not banned. Basmati is an acquired taste .. doubt HK uncles and aunties are interested in that.

[jayinhongkong]

To be fair .. basmati exports are not banned. Basmati is an acquired taste .. doubt HK uncles and aunties are interested in that.

The issue is cheap low grade Indian rice is now banned for export, so Thai and Vietnamese rice has to take up the slack, leading to elevated prices for Thai and Vietnamese rice. Auction prices are already up

[jayinhongkong]

no more basmati rice here

If you mean in HK, that's because Indian moms bought it all up (and it's not even affected by the export ban)...

[shri]

If you mean in HK, that's because Indian moms bought it all up (and it's not even affected by the export ban)...

Globally - blame Indian facebook aunties & uncles... been covered a fair bit by US / UK media.