Prices of non-basmati parboiled rice, such as IR 64, have increased by almost 12% over the last ten days owing to increased purchases from markets like Africa and West Asia amid India’s ban on non-basmati white rice exports.

Amidst a backdrop of soaring grain prices and a surge in demand ahead of the festival season, the Indian government is contemplating a significant shift in its import policy for wheat.

According to a vast majority of exporters, the export ban on non-basmati white rice may not last for very long because concerns over the standing crop's have eased.

Following the ban on the export of non-basmati white rice by India in order to control prices, there is growing speculation that sugar exports may be similarly restricted.

India is the second-largest producer of wheat worldwide. India's wheat prices have risen to a 6-month high. To keep prices under control, the government may lower or eliminate import taxes on wheat.

In the ongoing agricultural season 2022/23 (September-July), the member states of the European Union (EU) have emerged as the leading importers of Ukrainian sunflower oil, consuming approximately 2.25 million tons.

Commanding a mammoth 40% share in the global rice trade, India is the leading rice exporter in the world and the Asian nation enjoys bumper paddy harvest every year which help it to ship different varieties of rice to over 150 countries after meeting its domestic needs.