MUMBAI: India’s recent curbs on rice exports could trigger a rally in global prices after more than a decade of stability, traders say, as Delhi’s protectionist move coincides with falling output in other major producing countries and rising global demand.
Uneven monsoon rains hit rice planting in India, prompting the export restrictions in September, and floods have cut output in Pakistan even as consumption has grown in top importers such as Bangladesh and the Philippines. That is why forecasters are saying global demand will outstrip production in 2022-23.
