On Thursday, India banned the exports of non-basmati white rice with immediate effect, CNBC reports.
The country is the world’s leading rice exporter, accounting for over 40% of the global rice trade.
The move aims to control high food prices and ensure sufficient availability in the domestic market.
The ban may particularly affect countries like Bangladesh and Nepal, which heavily rely on Indian rice imports.
Rice prices are already at decade highs due to tighter supplies and geopolitical events like Russia’s grain deal withdrawal.
