India tightens grain export restrictions

World's leading rice shipper takes measures

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India, the world's top rice exporter, is implementing strict restrictions on grain exports, affecting various rice varieties. These measures come as the government aims to curb rising food prices ahead of an upcoming election. India's actions are poised to impact the global market, particularly in Asia, where rice prices are at a 15-year high.

As reported per BNN Bloomeberg key measures include:

- Basmati Rice: India sets a minimum export price of USD 1,200 per ton.

- Non-Basmati Parboiled Rice: A 20 percent export tax is imposed.

- Non-Basmati White Rice: Overseas sales are halted with exceptions for food security needs.

- Broken Rice: Sales of broken rice were already banned last year.

These measures aim to stabilize India's domestic market but will have ripple effects on global grain supply.

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