Measure will only affect 20 per cent of the country’s shipment abroad. Read more at straitstimes.com.
NEW DELHI - India's potential clampdown on exports of broken rice shows the world's top shipper trying to thread the needle of cooling domestic inflation without causing global panic.
While such a move has the potential to further disrupt global crop markets and worsen a hunger crisis, the impact is less severe than if it were to restrict all rice exports. During the 2007-2008 food crisis, India blocked rice exports, leading other producers such as Vietnam to follow suit. That sparked panic buying, sending rice prices to more than US$1,000 a tonne, more than double the level now.
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