India imposed controls on exports of several varieties of rice on Friday, in a move likely to affect the global market for one of the most commonly eaten staple foods as commodity prices surge following Russia’s invasion of Ukraine.
The country — the world’s leading exporter of rice, accounting for about 40 per cent of the global trade — imposed a 20 per cent duty on unmilled white rice, husked brown rice and semi-milled or wholly-milled rice. The restrictions do not apply to basmati rice, India’s best-known variety of the grain.
The finance ministry announced the move late on Thursday, saying that “circumstances exist which render it necessary to take immediate action”.
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