Restrictions in India and devastating floods in Pakistan look to see the global rice market increase prices and have shortages.
Last week, India, the world’s largest rice exported banned the export of broken rice and imposed a 20 percent duty on many other grain categories. The duty was put in place as inadequate rainfall in certain parts of the country has produced lower rice yields than usual.
Meanwhile, Pakistan is the world's fourth-largest rice exporter and is facing the worst flooding in over ten years; around 1.2 million hectares of farmland are estimated to be underwater.
The rice market has contrasted the surges in other grain prices since the war between Ukraine and Russia outbreak. However, these recent changes may produce an increase.
