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People throng US supermarkets to buy rice after India bans export: Watch


Mangalore Today News Network

New Delhi, July 25, 2023: Swarms of people, predominantly Indians, were seen thronging their local supermarkets in parts of the United States, after India banned the export of rice to boost domestic supply. This led to a significant hike in the price of rice.

 

Rice export ban


Fearing further elevation of prices, people were seen panic buying rice. A visual from Dallas, Texas showed a crowd of Indians catching bags of rice as a man handed them out.

 


Long queues of people were seen outside supermarkets. People were seen stocking up rice bags in bulk.

RICE EXPORT BAN

A ban on exports of non-basmati white rice was ordered on Thursday, July 20. This was done in order to boost domestic supply and keep retail prices under check during the upcoming festive season.

 


Non-basmati white rice constitutes about 25 per cent of total rice exported from the country.

"Export policy of non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or glazed)...is amended from free to prohibited," the directorate general of foreign trade (DGFT) said in a notification.

India accounts for more than 40 percent of all global rice shipments.

Countries expected to be hit by the ban include African nations, Turkey, Syria, and Pakistan -- all of them already struggling with high food-price inflation, data analytics firm Gro Intelligence said.


Courtesy: India Today


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