Mint Explainer: How export curbs have impacted rice trade
- As a direct consequence of the export restraints, global rice prices were up 35% year-on-year as of 29 September
Over the past year, amid persistently high inflation, India has taken several steps to keep retail prices of rice in check. One of the them was export ban. The export curbs, rolled out since September last year, has effectively brought rice trade to a grinding halt for some varieties. Global prices have hit record highs as India is the world’s largest exporter of the food grain. But with new crop arrivals imminent, traders are hopeful that some of these restrictions may be eased.