Mumtaz Moosa | mumtazs@icloud.com
13 July 2023 | 13:00 CAT
1 min read

Photo Credit: The Indian Express

Many South Africans are already feeling the pinch regarding the cost of food and its increasing rise as months go by. With India considering banning the export of rice, it could mean another price hike on the horizon.

India is the world’s largest rice exporter, and due to the disruptive El Niño weather patterns returning, India is considering banning rice export.

Experts have stated that the government is planning to ban exports of all non-Basmati rice and suggested that this could be a ploy to avoid more inflation before elections. If the ban goes ahead, it will affect more than 80% of India’s rice exports. While the move may lower domestic prices, it risks increasing global costs.

Rice is a staple for half the world’s population, with Asian countries the highest consumers consuming close to 90% of the global supply. 

Many countries had feared the effects of El-Niño and have been aggressively stockpiling.

For the first time in seven years, El-Niño conditions have developed in the tropical Pacific, and the World Meteorological Organisation has stated that this could bring about drought or extreme weather conditions to many rice-growing regions.