Business & Economy

India to Allow Rice Export To Singapore in View of Special Ties

India, the world’s top exporter of rice, on July 20 announced an export ban on the non-basmati variants of rice. The announcement came in the wake of a price rise on the domestic market.
Sputnik
New Delhi has announced that it will make an exception by supplying non-basmati white rice to Singapore because of the special relationship between the two countries.
The Ministry of External Affairs (MEA) spokesman Arindam Bagchi said the decision was prompted by the “very close strategic partnership” between India and Singapore.
On Tuesday night, the federal Ministry of Commerce and Industry issued a formal notification on the matter.
India accounts for over 40 percent of global rice exports. This move is bound to trigger inflation in a market that has already been hit by Western nations' sanctions on Russia and by the erratic weather patterns across the globe.
Sputnik Opinion
India's Rice Export Ban Strengthens Homegrown Food Security
Discuss