India bans some rice exports immediately, SA may face trouble if it lasts long | Business

The 20% tariff imposed on exports of white and brown rice is a source of worry as SA will incur an additional expense of 20% tax when importing rice.India, the world’s biggest rice exporter, has banned some overseas sales"with immediate effect".

Rice is a major world food staple and prices on international markets have soared to decade highs as the world grappled with the Covid-19 pandemic, the war in Ukraine and the impact of the El Nino weather phenomenon on production levels.. that if a ban persists it could result in global panic buying, resulting in a spike in prices globally. India is South Africa's second biggest rice supplier after Thailand.

India said on Friday it would ban exports of non-basmati white rice -- which accounts for around a quarter of its total -- the consumer affairs and food ministry said. Countries expected to be hit by the ban include African nations, Turkey, Syria, and Pakistan -- all of them already struggling with high food-price inflation -- the firm added.

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