Food security at risk as India bans rice export, Russia ends Black Sea grain deal

globalnews.ca:

Russia withdrew from the Black Sea grain deal, the Indian government announced on Thursday that it will be stopping all exports of non-Basmati white rice with immediate effect.The timing of the move comes amid a wave of extreme heat scorching many parts of the globe, all culminating in growing questions about the security of food supply chains around the world.According to the Food and Agricultural Organization (FAO) of the United Nations, India accounts for more than 40 per cent of the world’s rice exports.In a statement Thursday, the country’s ministry of consumer affairs, food and public distribution cited the need to “ensure adequate availability of Non-Basmati White Rice in the Indian market and to allay the rise in prices in the domestic market.”According to the ministry, non-Basmati white rice accounts for a quarter of all Indian rice exports.This decision comes as Indians have been struggling with high food prices. In September of last year, the government imposed a 20 per cent export duty on rice to lower the price in the domestic market.

Despite this, the retail prices of rice have been rising in India. According to the government, the retail price has increased 11.5 per cent in the last year and 3.0 per cent over the last month.“The prohibition on export of Non-Basmati White Rice will lead to lowering of prices for the consumers in the country,” the ministry said.But the impact globally remains to be determined.On Monday, Russia withdrew from the Black Sea grain deal, under which it allowed the passage of ships from Ukrainian ports on the Black Sea carrying food grain shipments.Kremlin spokesperson Dmitry Peskov said Russia would suspend the Black Sea Grain Initiative until its demands to get its own food and