Millions of people from Asian and African countries will be affected due to the rice export ban by India, reports CNBC.
The world’s largest rice exporter banned the exports of non-basmati white rice on July 20 to ensure the adequate availability of the commodity at a reasonable price.
India exports around 40% of rice of the total global trade and the most affected country by the decision would be Malaysia, said Barclays in a recent report.
The next major affecting entity will be Singapore, said the analyst. Apart from Asia, several African and Middle East countries would also face the brunt of India’s rice ban order.
BMI, a Fitch Solutions research unit, said that the export restrictions would affect Sub-Saharan Africa and the Middle East and North Africa (MENA) region. The most affected countries would be Djibouti, Liberia, Qatar, the Gambia, and Kuwait, it said.
