News

Global rice prices hit 15-year high after India curbs: FAO

By AFP

September 8, 2023 03:04 PM


Representational image

Global rice prices reached a 15-year high in August after top exporter India banned some overseas sales of the grain, the Food and Agriculture Organization said Friday.

While global food prices eased in August, those of rice rose 9.8 percent compared to the previous month, "reflecting trade disruptions in the aftermath of a ban on Indica white rice exports by India", the FAO said in a monthly report.

"Uncertainty about the ban's duration and concerns over export restrictions caused supply-chain actors to hold on to stocks, re-negotiate contracts or stop making price offers, thereby limiting most trade to small volumes and previously concluded sales," it said.

Rice is a major world food staple and prices on international markets have soared in the wake of the Covid pandemic, the war in Ukraine and the impact of the El Nino weather phenomenon on production levels.

Indian announced in July a ban on exports of non-basmati white rice, which accounts for around a quarter of its total.

The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".


AFP


Most Read

  1. Opening of schools during winter vacation banned in Lahore Opening of schools during winter vacation banned in Lahore
  2. Four die in Karachi mall fire Four die in Karachi mall fire
  3. University girl commits suicide by jumping into Gujrat river University girl commits suicide by jumping into Gujrat river
  4. Statement of fourth witness in Imran’s illegal Nikah case recorded Statement of fourth witness in Imran’s illegal Nikah case recorded
  5. Pakistani actress Nausheen Masud passes away after cancer battle Pakistani actress Nausheen Masud passes away after cancer battle
  6. Peshawar, with AQI 276, ranked as world’s most-polluted city Peshawar, with AQI 276, ranked as world’s most-polluted city

Opinion

  1. Diplomacy in Action: Pakistan's UNESCO Victory
    Diplomacy in Action: Pakistan's UNESCO Victory

    By Dr Asif Channer

  2. India’s endgame in Kashmir is consummation of settler-colonial occupation; Kashmiris’ goal is to uproot it
    India’s endgame in Kashmir is consummation of settler-colonial occupation; Kashmiris’ goal is to uproot it

    By Tariq Ahmed

  3. TPNW can prevent nuclear disaster in South Asia
    TPNW can prevent nuclear disaster in South Asia

    By Dr Ghulam Nabi Fai

  4. Political Opportunism and the 18th Constitutional Amendment
    Political Opportunism and the 18th Constitutional Amendment

    By Muhammad Asad Ayaz

  5. To Know and Not to Know
    To Know and Not to Know

    By Abdullah Bin Tahir