Rice Price Hike: India is one of the important countries in the world in terms of rice export. India exports up to 40% of rice to many parts of the world. In such a situation, if India suddenly bans the export of rice, then many countries of the world can be affected. If reports are to be believed, something similar has happened. Last month, India had completely banned the export of rice to control the supply within the country. Now there is information in this regard that due to this in many parts of the world the prices of rice (rice prices) has seen a sharp increase.
According to the news, due to this step of India, the price of rice in Asia has fallen in the last 15 years (rice prices) is at its highest level. Let us tell you that recently India had extended the ban on export of rice from its market. Apart from this, it is also being said that due to irregularity of weather, its price may also increase.
This is the reason why the price of rice is increasing in the global market
Explain that India is one of the major rice exporters. Talking about the present time, the demand for rice is at its peak in the global market and in this difficult situation, India has banned the export of rice from its country to the global market. Due to India’s ban on export of rice, its demand has increased further. In such a situation, if we look at the market value, it is clear that the decrease in supply amidst increasing demand will definitely lead to increase in the price. Apart from this, weather is also a major factor due to which its prices seem to be skyrocketing.
Price of rice may increase further
If the news is to be believed then further increase in the prices of rice can be seen in the global market. One of the main reasons for this is the vagaries of the weather along with the ban on India’s rice exports. It is reported that due to lack of rain in major rice producing countries, this time the production of rice may be less. In such a situation, it is being speculated that in the event of less production, the demand will increase in the same way, whose direct effect will be seen in the form of increase in its price. Explain that India, Vietnam and Thailand are among the major rice producing countries of the world. In this, Thailand has also given the message of drought due to irregularity of rains. In such a situation, the concern of the global market has increased as to how this situation will be dealt with.
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