India wants to ban the supply of almost all varieties of rice due to fears of rising prices

In India, they wanted to impose a ban on the export of almost all varieties of rice, except for basmati. With this measure, the authorities want to contain the rise in prices for rice within the country. This is reported by Bloomberg, citing industry sources.

According to the agency, the ban could affect almost 80% of rice supplies from India. In turn, this measure can provoke an increase in rice prices around the world. At the same time, world prices are already at a high level amid fears that the El Niño natural phenomenon will cause serious damage to the grain crop.

The report indicated that now the cost of a ton of basic Asian rice has reached $535 per ton, which is the highest figure in the past two years.

According to the authors of the article, the rise in prices for rice will harm the inhabitants of Asian countries, since it is one of the key food products for them. In addition, Asia accounts for 90% of the world's rice consumption.

At the end of November, the Indian authorities lifted the ban on the export of crushed rice, introduced in early September in order to increase its volumes in the domestic market.

Earlier it was reported that India could be on the verge of starvation due to rising rice prices.