Food supply, already squeezed by shortages in wheat, corn and cooking oils, is at risk of even more disruption, this time from the rice market.
India is clamping down on exports of the staple for half the world’s population, with the market’s focus now turning to the capacity of other major producers including Thailand and Vietnam to fill the gap. The restrictions are threatening to ignite inflation for yet another key commodity, and may deprive some of the globe’s poorest nations of a crucial element of their diet.
India is the single largest exporter with a 40 per cent share