Rice Rates in India: The kitchen budget is in trouble due to global inflation. Meanwhile, India has stirred the world for the last few days due to a ban on rice exports. A sharp increase in rice prices has been seen in many countries.
India imposed further restrictions on parboiled and basmati rice over the past week, sending rice prices in Asia rising to a 15-year high on Wednesday. The ban on rice and some other grains started on July 20. After this, a ban was imposed on the export of many varieties of rice. India is one of the largest rice exporter countries in the world. After this, there are countries like Thailand and Vietnam.
What Is The Concern In The World Regarding Rice?
According to the Economy Times report, Harvard University Professor Emeritus Peter Timmer said that increases in rice prices often hurt poor consumers the most. He said that the biggest concern right now is that if Thailand and Vietnam impose restrictions on India, the cost of rice worldwide may exceed $1,000.
What Is The Price Of Rice Now?
The benchmark price of rice in the global market is currently $646 per ton, and due to less rainfall, the cost of rice may increase further. Thailand has warned of drought this time, due to which the fear of rising rice prices in the global market has further increased. The crop in China is good, and the world can get relief from it.
Why Did India Ban
Regarding India, the price of rice in the country is being sold slightly higher than last year. The cost of one kg of rice in New Delhi is Rs 39. In such a situation, due to the rising price of rice, export duty has either been increased or it has been banned.
