After a year, India’s rice export restrictions continue to fuel high prices

By Joseph Glauber and Abdullah Mamun

July 29, 2024

In July 2023, the Indian government announced export restrictions on non-basmati white rice. Coming after earlier export limits on other types of rice, the action was taken in part due to a strengthening El Niño that threatened to limit rice production and fuel rising food inflation-a potential political liability for the Modi government as it faced upcoming general elections in spring 2024.

The measure affecting a key export crop immediately disrupted global rice markets, with the benchmark Thai white rice price increasing over 20% by early August 2023. Rice prices have remained at those levels since then