Source
It has been said by the government that it has been decided to stop the export of rice due to the increase in the price of rice by three percent within a month. There is heavy rain in most parts of the country. Due to this, the rice crop has suffered a lot. Due to this reason, the prices of rice have increased in the last month. In order not to worsen the situation in the country due to increase in the price of rice, the government has stopped the export.
What effect in America?
The biggest impact of India’s decision to ban exports was seen in America. There was a stir among Indians in America. They rushed to the shops and bought large quantities of rice. Some even left their office meetings halfway and reached the shops and bought sacks of rice. The shortage of rice has started to be felt in stores in America.
Want rice, then buy more stuff!
Seeing the queues of Indians to buy rice in American shops, some shopkeepers there made a wise decision. If you want a bag of rice, buy an extra $50 from the store, the Namaste Plaza store in Fremont issued a decree. There was a dispute between the customer and the manager. Family members send their relatives to buy rice every hour. So others will not get rice. For this reason, the manager said that if you want more rice, buy more items.
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What is India’s share in rice exports?
India accounts for 40 percent of the world’s total rice exports. As the Russia-Ukraine war continues, their exports have decreased. Therefore, many countries around the world depend on Indian rice. Now that the Indian government has decided to ban exports, the prices of rice may increase worldwide. In the last 12 months, rice prices in the country have increased by 12 percent.
Export of any rice off?
The categories of rice that India has decided to stop exporting include white rice and broken rice, apart from basmati. India exported a total of 22 million tonnes of rice last year. The share of this rice was 10 million tons.
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Why did the Government of India take this decision?
The Lok Sabha elections are on the horizon. The upcoming Lok Sabha elections are a few months away. Against this backdrop, the government is sensitive to inflation. The government is said to have decided to ban rice exports because it is aware that inflation can have a direct impact on the polls. Earlier in September 2022, the government had imposed restrictions on the export of rice. Subsequently, restrictions on wheat exports were increased.
