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Centre weighs ban on rice exports -R Suryamurthy

-The Telegraph

Officials said the government is weighing up the option of some kind of restrictions on the shipments of rice

New Delhi: After wheat, the Centre is mulling curbs on rice exports as the acreage under the crop this season has shrunk about 13 per cent over the previous year because of deficient rains in key rice-growing states — leading to a rise in the price of the foodgrain.

Analysts said the lower output could roil the global markets as India is one of the largest exporters of rice, adding to the wheat shortages because of the Ukraine war. With less rice to procure, there are implications not only for food inflation in the country but also on the sustenance of the Modi government’s welfare programmes, the analysts said. India is the world’s second-largest producer and top exporter of rice.

The country commands 40 per cent share in the global trade. Officials said the government is weighing up the option of some kind of restrictions on the shipments of rice.

After a bumper harvest of 129 million tonnes (mt) last year, paddy cultivation fell 13 per cent amid deficient rains this year causing prices to jump 20-30 per cent in the past two months.

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