India Bans Non-Basmati White Rice Export
India's decision to ban export of non-basmati white rice has caused uncertainty in major foodgrain markets worldwide. India contributes around 40% of the world's total rice exports, and this decision has raised inflationary fears in global food markets. However, this decision is expected to have a favorable impact on the retail price of non-basmati white rice in Indian markets. The domestic prices of rice have registered an increasing trend recently as its retail prices have increased by 11.5% over a year and 3% over the past one month.
