Indian authorities can consider restricting rice export to provide enough supplies within the country and prevent prices, writes The Economic Times.
newspaper.
According to one of the sources of the publication, the same restrictions as on sugar can be introduced for export: its export is limited at 10 million tons. Another interlocutor of the publication said that in total, the restrictions on the export of five types of products are considered, for two of them (wheat and sugar) the ban has already been introduced.
The publication notes that inflation in India in April reached 7.79%, which has become a maximum over eight years. “Many countries are currently pursuing their domestic policy for grains. India wants to ensure food security for themselves, their neighbors and vulnerable countries,” an unnamed official told the publication.
India decided to limit the export of wheat due to its rise in price. Two days after that, the price of wheat in Europe broke a record of € 438.25 per tons. India is the second largest rice manufacturer in the world after China and over the past two years has exported rice to more than 150 countries.