Sunday, July 21, 2024

Global Consequences of India’s Rice Export Ban

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Recently, India declared an export ban on all rice variants except basmati white rice. The 3% increment in rice prices in India indicates an approximately 12% rise in the last year. The unseasonal rains and floods have caused significant damage to crops in India. Therefore, it has led to a dearth of rice grains in the Indian market. These are the primary causes of the recent export ban on the non-basmati race. However, this will impact the global markets. India provides 40% of the world’s rice. While the ban leaves basmati variants available in the global markets, the global cost of rice is expected to jump due to India’s internal policies.

India: The Rice Bowl of the World

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India alone accounts for 40% of the rice exported globally. In 2022, India’s rice export was worth 6.12 billion USD for non-basmati rice. Furthermore, the basmati rice export was worth 3.14 billion USD. While the total value of export of basmati rice is almost constant since 2015, the non-basmati export has increased by 109% since 2015.

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Last year, India capped the export of rice to de-escalate the rising cost of rice within the nation. India’s rice is exported to many nations. In 2022, Iran took a 10% share of the total rice exported by India. The second largest exporter of Indian rice is Saudi Arabia, which took only 9% of the total exported quantity.

China, where rice is the primary ingredient of meals, took third place with a 6% share of the Indian rice market.

Will India’s Rice Ban push The West into Aggressive Recession?

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The rice ban in India is due to critical damage to crops as a result of unfavorable weather patterns and natural disasters. The Indian government is taking proactive steps to ensure food on the plate of its citizens. While the farming lobby may cry about the loss of profits, the citizens of India will be grateful for affordable food grains. The inflation that the Opposition parties often like to talk about is a global problem that India is successfully countering by increasing per capita income and global GDP.

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Globally, this ban by India is likely to push the West into an aggressive recession. The cancellation of the grain treaty by Russia one-sidedly is already a major factor for global concern. The subsequent actions by the Kremlin to disallow all containers from the ports near Ukraine has put the West in a tough spot. Top it with India’s rice ban and the West is sure to crumble. The dearth of food grains will push Western nations into aggressive stages of recession in an already stressed Ukraine-Russian war scenario. 

The Projected ‘Toolkit’ Response

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The coming days will see the activation of the sleeper cells of the toolkit media. The rice ban of India will be projected as a suppression of farmers by the BJP government. The situation will be painted as if PM Modi is snatching morsels from the mouths of hungry African nations. Although India exports 71% of Africa’s non-basmati rice, the nation needs to place the needs of its people before the hunger of other continents. The resultant pressure on the global economy will be huge. This pressure will activate the active ‘toolkit’ gand and its sleeping members. Therefore, Indians should sit by and watch the drama unfold. The Soros cult will trip over themselves to prove that PM Modi and BJP are the cause of global hunger. Hopefully, Indians will recognize these tried & tested tactics; and will deny them the pleasure of acknowledgment in any form. 

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