India’s July 20th ban on non-basmati rice exports has resulted in basmati prices soaring. The decision comes amid growing concern over late rice sowings and reduced production as well as inflation, ahead of key state elections and next year’s Lok Sabha elections. Non-basmati white rice accounts for approximately one quarter of total rice shipped out of the country and the ban could hit large farmers in Punjab, Telangana and Uttar Pradesh.
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