“India, the world’s biggest rice exporter, will permit shipments to Singapore despite putting restrictions on overseas sales of the staple…
Concerns about a global supply squeeze and higher world food prices have increased after the world’s second-biggest producer and consumer tightened its curbs on rice exports. Asian benchmark prices of the grain, a staple diet for billions of people across the world, rebounded this week to trade near a 15-year high reached earlier this month.
India has restricted exports of all varieties of the grain. It has imposed a 20% tax on shipments of the parboiled variety of rice and a minimum export price on aromatic basmati, besides banning shipments of non-basmati white rice. The country accounts for almost 40% of the global rice trade.”