With a view to stabilize prices of non-basmati white rice that was on a rise due to late but heavy monsoon rains in the Punjab and Haryana belt, the Government of India banned exports of the staple on 20th July 2023 and this has raised troubles both for the nations dependent upon India for their rice needs as well as the rice exporters of the country.

According to the United Nations’ Food and Agriculture Organization (FAO), prices for food commodities such as rice and vegetable oil have increased for the first time in months as a result of Russia's withdrawal from a wartime agreement that allowed Ukraine to export grain to the world and India's restriction of some of its Rice Exports.