India has announced tighter controls on rice exports to safeguard food safety and stability. The new policy has been reported by Bloomberg.
The move could tighten global grain flow and affect supplies around the world.
Officials say a 20 percent export tax will be applied to rice, and roughly eighty percent of available supplies will be directed away from international markets.
Officials emphasize the measures are meant to strengthen food security within India for the coming period.
As the single largest rice exporter, India’s export curbs are likely to influence international prices in key markets across North America and Europe.
Krishna Rao, head of the Rice Exporters’ Association, commented that domestic prices could ease under the policy, helping the government curb food inflation while maintaining supply discipline.
Indian authorities noted that exporters who had existing contracts before the new rule could still fulfill those orders and ship grain as previously agreed.
Meanwhile, several European Union members pressed the bloc to extend restrictions on Ukrainian grain imports, seeking to protect their own farmers and food balance amid shifting trade flows.
At the same time, Russia reportedly increased its beer imports sharply, reflecting broader shifts in regional trade dynamics and consumer demand.