India has imposed further restrictions on rice exports to protect the country's food security, in a move that would put pressure on global grain supplies.
The Indian government has imposed a 20 percent rice export tax with immediate effect, according to a notice issued by the finance ministry late on Friday. India has thus restricted exports of all species – other than basmati rice – about 80 percent of its total rice exports.
India has a share in the world rice trade of about 40 percent and is the world's largest rice exporter. Asian rice prices rose to a 15-year high earlier this month and could rise further, increasing costs for importers such as the Philippines and some African countries.
Source (Al-Asharq Al-Awsat, Edited)
