SHORTAGES: The Rush is on for Rice. “Last week, in an effort to combat food price inflation at home – which is running at about 11% – the Indian government made a major move in the international food markets. They banned the export of their largest rice category – non-basmati white rice – hoping to cool prices domestically. . . . The ban, which was scheduled to take effect the 20th, takes 10M tons of their total 22M tons of rice exports out of the market almost immediately. Alarm bells were going off instantly, especially in the Asian and African countries who depend on Indian imports to feed their people.”

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