{"id":10379,"date":"2023-11-07T20:35:44","date_gmt":"2023-11-07T20:35:44","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=10379"},"modified":"2023-11-10T20:37:26","modified_gmt":"2023-11-10T20:37:26","slug":"global-rice-markets-are-in-crisis-amid-artificial-shortage","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/global-rice-markets-are-in-crisis-amid-artificial-shortage\/","title":{"rendered":"Global rice markets are in crisis amid \u2018artificial\u2019 shortage"},"content":{"rendered":"\n<p><p style=\"box-sizing: border-box; padding-right: 20px; position: relative; font-family: Lyon, Helvetica, Arial, sans-serif; font-size: 18px; white-space-collapse: collapse;\">Rice is a crucial staple for over half the global population and the world is bracing for its most significant shortage in 20 years.India\u2019s export ban on rice is reverberating through\u00a0global rice markets,\u00a0threatening\u00a0food security\u00a0if developing nations cannot afford or access rice.<\/p><span class=\"transition-fade-appear-done transition-fade-enter-done\" style=\"box-sizing: border-box; font-family: Lyon, Helvetica, Arial, sans-serif; white-space-collapse: collapse;\"><div class=\"BoxInline-container  \" style=\"box-sizing: border-box; margin: 0px; max-width: 300px;\"><div id=\"BoxInline-ArticleBody-6\" class=\"BoxInline-container\" data-module=\"mps-slot\" style=\"box-sizing: border-box; margin: 0px; max-width: 300px;\"><\/div><\/div><\/span><p style=\"box-sizing: border-box; padding-right: 20px; position: relative; font-family: Lyon, Helvetica, Arial, sans-serif; font-size: 18px; white-space-collapse: collapse;\">\u201cThe only shortage out there right now would really be India\u2019s plain, white, long grain, poor quality rice that they ship to a lot of countries throughout Africa and Southeast Asia,\u201d Peter Bachmann, vice president of policy and government affairs, told CNBC. \u201cAnd when they slap a ban in place, that impacted those developing countries the hardest and first.\u201dFirst, India banned exports of broken rice and imposed a 20% duty on exports of some rice varieties in September 2022.Then, in July 2023, India banned exports of its plain, white, long-grain rice.\u201cIndia is a country that has suffered from food insecurity in a significant way, so there\u2019s an understandable desire to ensure appropriate availability of staple foods like rice within the country,\u201d Will Kletter, vice president of operations and strategy at ClimateAi, told CNBC.\u201cBut there\u2019s a trade-off to that.\u201d<\/p><span class=\"transition-fade-appear-done transition-fade-enter-done\" style=\"box-sizing: border-box; font-family: Lyon, Helvetica, Arial, sans-serif; white-space-collapse: collapse;\"><div class=\"MidResponsive-midResponsiveContainer\" style=\"box-sizing: border-box;\"><div id=\"MidResponsive-1\" class=\"\" data-module=\"mps-slot\" style=\"box-sizing: border-box; margin: 0px auto; position: sticky;\"><\/div><\/div><\/span><p style=\"box-sizing: border-box; padding-right: 20px; position: relative; font-family: Lyon, Helvetica, Arial, sans-serif; font-size: 18px; white-space-collapse: collapse;\">India\u2019s rice exports make up 40% of the market, so any export bans quickly influence global prices.Rice prices spiked 15% to 20%, hitting their highest in almost 12 years, according to the\u00a0International Food Policy Research Institute.\u2033[India is] trying to secure enough rice in their domestic markets so their prices will drop for consumers,\u201d Bachmann said.Part of the problem is that despite facing the same rising input costs for energy and fertilizer, in comparison to other agricultural commodities, market prices for rice stayed relatively stable.U.S. rice farmers face\u00a0the same volatile rice prices.\u201cOur farmers, they\u2019ll go up against any rice farmer,\u201d Michael Klein, vice president of communications and domestic promotion at USA Rice, told CNBC. \u201cBut, they can\u2019t compete with the foreign government.\u201dWhen U.S. rice farms struggled to stay profitable as global rice prices mismatched with rising input costs, Congress passed $250 million in supplemental funding.\u201cThese programs exist just to stop these farmers from falling through the cracks because that would be a huge disaster,\u201d Klein said.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rice is a crucial staple for over half the global population and the world is bracing for its most significant shortage in 20 years.India\u2019s export ban on rice is reverberating through\u00a0global rice markets,\u00a0threatening\u00a0food security\u00a0if developing nations cannot afford or access rice. \u201cThe only shortage out there right now would really be India\u2019s plain, white, long [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[332,159],"class_list":["post-10379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-rice-market","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global rice markets are in crisis amid \u2018artificial\u2019 shortage - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global rice markets are in crisis amid 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