India experiencing shortage of rainfall which will effect its rice export to 150 countries

Indian farm workers transplant rice paddy amid the state’s ongoing monsoon on August 02, 2022 in Hooghly district in the state of West Bengal. Rebecca Conway | Getty Images News | Getty Image

Revelation 16:9 “They were scorched by the fierce heat, and they cursed the name of God who had power over these plagues. They did not repent and give him glory.”

Important Takeaways:

  • World’s largest rice exporter India restricts shipments after below-average monsoon rainfall
  • India banned exports of broken rice and imposed a 20% duty on exports of various grades of rice on Thursday as the world’s biggest exporter of the grain tries to augment supplies and calm local prices after below-average monsoon rainfall curtailed planting.
  • India exports rice to more than 150 countries, and any reduction in its shipments would increase upward pressure on food prices, which are already rising because of drought, heat-waves and Russia’s invasion of Ukraine.
  • India accounts for more than 40% of global rice shipments and competes with Thailand, Vietnam, Pakistan and Myanmar in the world market.

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