International media also reports on the warning from Canadian intelligence agencies about the possibility of India & China meddling in the country's elections.
Global rice prices soared to their highest level in over 15 years following India's decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports.
Rice stocks at the Food Corporation of India on 1 September stood at 32.3 million metric tons, 38.6% higher than last year, encouraging the government to consider export relaxation.
With Red Sea, critical to enter and exit Suez Canal, under attack by Yemen’s Houthi rebels, exporters are having to pay more than double to send goods to Middle East, Europe & US.
India, which accounts for 40% of world rice exports, sells the staple to more than 150 countries, including a few poor and vulnerable countries in Africa and Asia.
The ban will cut availability of rice on world markets by about a fifth, and could lead to importers seeking more govt-to-govt deals to overcome shortages and tame spiraling prices.
India has strategic interest in Nepal and Bangladesh so it is possible that export of white non-basmati rice to these countries will be allowed on diplomatic considerations.
Pierre-Olivier Gourinchas noted that these types of rice restrictions could lead to 'retaliatory measures.' He also said that global grain prices could rise by 10-15% this year.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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