The world’s top rice shipper now has restrictions on every grain

India, the world’s largest rice exporter, has now implemented restrictions on every variety of the grain that the South Asian nation ships overseas, measures that will tighten global supply even further.

Over the past few days, India imposed a minimum price on shipments of basmati rice and put an export tax on the parboiled variety. The government of Prime Minister Narendra Modi has stepped up measures to tackle rising food prices ahead of an election early next year.

The latest curbs are likely to ripple across the global market, with benchmark rice prices in Asia near the highest level in almost 15 years.

Here’s a list of India’s measures on rice:

Basmati

• India set a minimum export price of $1 200 per ton. The floor is designed to prevent the sale of non-basmati rice being sold as the more expensive aromatic variety to dodge export curbs.
• Accounted for about 20% of shipments in 2021-22.

Non Basmati parboiled

• The government implemented an export tax of 20% on the grain, confirming an earlier report on by Bloomberg News on the tariff.
• Accounted for about 30% of shipments in 2021-22.

Non-Basmati white 

• Overseas sales of the grain were halted with immediate effect last month, with the caveat that some shipments would be allowed if requested to meet the food security needs of other countries.
• Accounted for about 30% of shipments in 2021-22.

Broken

• Last year, India banned overseas sales of the broken variety.
• Accounted for about 20% of shipments in 2021-22.

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