Rice price hike fears as India, SA's second biggest supplier, considers banning most exports | Business

Representatives for the food, trade and finance ministries didn’t respond to emails or text messages seeking comment.

Importers such as Indonesia, China and the Philippines have been aggressively stockpiling rice this year. conditions have developed in the tropical Pacific for the first time in seven years, according to the World Meteorological Organization, threatening to bring drought to many rice-growing regions. A potential ban by India will add to worries over supply.

India’s plan comes after its consumer price inflation quickened in June, mainly due to higher food prices. Bloomberg Economics expects inflation to rebound further with the latest surge in prices — a key ingredient in Indian cuisine — and an increase in the government’s support price for monsoon-sown crops.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Foxconn pulls from R360bn deal in India to make semiconductors | BusinessTaiwanese electronics giant Foxconn withdrew from a $19.4 billion (R362 billion) deal with India's Vedanta to make semiconductors in the South Asian nation owing to 'challenging gaps', it announced Tuesday. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Business Matters Ep 11 | Women In Business | 10 July 2023[SPONSORED] Women entrepreneurs play a significant role in stimulating innovation, creating jobs, and fostering economic progress in South Africa. Tune in to the next BusinessMatters episode eNCA
Source: eNCA - 🏆 49. / 51 Read more »

Excessive gas pricing: Competition watchdog finds that Sasol charged markups of up to 72% | BusinessThe commission found that Sasol Gas contravened the Competition Act and extracted markups of up to 72% on the product, with excessive pricing having continued for almost a decade to date.
Source: News24 - 🏆 4. / 80 Read more »

Business Talk Season 9 – Coming soonSeason 9 of BusinessTech’s video podcast, Business Talk, is set to be the best season yet.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Saphila 2023: SAP announces free business process skills development initiativeEnterprise software firm introduces Business Process Open Lecture global initiative to enable people to become SAP certified.
Source: ITWeb - 🏆 45. / 51 Read more »