India Bans Rice Exports

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India Bans Rice Exports
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1 Apr 08 - The Indian government has banned the export of non-basmati rice in an attempt to control soaring domestic food costs, a decision taken during an emergency cabinet meeting.

The price for exports of aromatic basmati rice has also been raised to $1,200 per tonne to discourage exports.

The move could have an impact on rice prices globally as the country is the third largest exporter of the grain - a staple food in many countries.

The price of such rice was increased from $650 to $1,000 per tonne in the month of March alone.

India is the second-largest rice producer in the world, usually exporting more than four million tonnes of rice a year.

Two years ago, India imported wheat for the first time in six years following a significant drop in its stockpiles.

The problem is an international one, as global rice stocks have reached a 25-year low.

http://news.bbc.co.uk/1/hi/world/south_asia/7323713.stm
Thanks to John Brown in Ardrossan, Scotland for this link








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