SAWT BEIRUT INTERNATIONAL

| 13 July 2024, Saturday |

Global rice prices hit 15-year high after India curbs: FAO

Global rice prices reached a 15-year high in August after top exporter India banned some overseas sales of the grain, the Food and Agriculture Organization said Friday.

While global food prices eased in August, those of rice rose 9.8 percent compared to the previous month, “reflecting trade disruptions in the aftermath of a ban on Indica white rice exports by India”, the FAO said in a monthly report.

“Uncertainty about the ban’s duration and concerns over export restrictions caused supply-chain actors to hold on to stocks, re-negotiate contracts or stop making price offers, thereby limiting most trade to small volumes and previously concluded sales,” it said.

    Source:
  • Arab News