India restricts rice exports, fueling inflation fearsAFP, MUMBAI, IndiaThe world’s biggest rice exporter, India, has banned some overseas sales of the grain “with immediate effect,” the government said, in a move that could drive international prices even higher. India would ban exports of non-basmati white rice — which accounts for about one-quarter of its total, the Indian Ministry of Consumer Affairs, Food and Public Distribution said. Global demand saw Indian exports of non-basmati white rice jump 35 percent year-on-year in the second quarter, the ministry said. The increase came even after the government banned broken rice shipments and imposed a 20 percent export tax on white rice in September last year. India exported 10.3 million tonnes of non-basmati white rice last year and Rabobank senior analyst Oscar Tjakra said alternative suppliers did not have spare capacity to fill the gap.
