Ifpri Podcast

IFPRI-AMIS SEMINAR SERIES A Look at Global Rice Markets: Export Restrictions, El Niño, and Price Controls Co-organized by IFPRI and Agricultural Market Information System (AMIS) OCT 18, 2023 - 9:00 TO 10:30AM EDT To address rising domestic prices for rice, India banned exports of non-basmati rice on July 20, 2023—a move many feared would drive global prices even higher. Since then, these worries have been realized: Thailand’s benchmark price for rice has increased 14 percent, Viet Nam’s rice prices are up 22 percent, and India’s white rice prices are up 12 percent. To prevent exporters from undermining its ban, India instituted a surcharge of 20 percent on exports of parboiled rice and a minimum sales price for basmati rice in August. India’s actions have had repercussions around the world as domestic consumers struggle with higher prices and rice importers seek alternative suppliers. Some markets have experienced cases of panic buying (the United States and Canada), additional export restrictions (such as