This step of India created an outcry in the whole world, rice became the costliest in 12 years

India exports maximum Basmati rice to Iran, Saudi Arabia, Iraq, UAE and America. In the year 2022-2023, India has exported a total of 45.6 lakh tonnes of basmati rice. This earned India an income of $4.8 billion.

The central government is taking quick decisions to put a brake on inflation. After banning the export of non-Basmati rice, the Center has also banned the export of Basmati rice with conditions. The government hopes that this will increase the stock of rice in the country, due to which the prices will fall. But, due to this step of the Government of India, rice has become costlier in the global market. Rice prices have caught fire in many countries. It is being said that due to the ban on export of rice by India, the price of rice in the global market has reached its highest level of 12 years.

The central government had banned the export of all types of non-basmati rice. Despite this, the government was feeling that a huge scam was taking place in the name of non-basmati rice. Traders are exporting only non-Basmati in the name of Basmati rice. In such a situation, he decided to ban the export of basmati rice with certain conditions. The government hopes that this step will put a brake on the export of non-basmati rice. The special thing is that this time the government imposed a ban and said that basmati rice priced below $1200 per tonne would not be exported. This means that expensive basmati rice will be exported from this.

Exports alone 40 percent of rice in the global market

Actually, India is the largest rice exporting country in the world. It alone exports 40 percent rice in the global market. Basmati rice alone has a share of 40 lakh tonnes in this.

177.9 lakh tonnes of non-basmati rice was exported

The special thing is that during this period, India exported 177.9 lakh tonnes of non-basmati rice, which is worth $ 6.36 billion. Whereas, in the crop season 2022-2023, a total of 13.54 crore tonnes of rice was produced in India. Earlier in the year 2021-2022, 12.94 tonnes of rice was produced. It means that this year the production of rice in India has increased as compared to last year. Actually, India exports 80 percent of the rice priced below $1200 per ton. In such a situation, this decision of the government will encourage the storage of rice sold at a cheap rate.