New Delhi/London | India has banned exports of non-basmati white rice, stoking fears of further global food inflation just as Russia’s targeting of grain ships has pushed up wheat and corn prices.
India’s Ministry of Consumer Affairs said it would prohibit exports to “lower the price as well as ensure availability in the domestic market”. Rice prices in India have risen 11.5 per cent over the past year and 3 per cent over the past month, reflecting a 35 per cent year-on-year surge in export volumes between April and June.
