How can the rice sector address the global market disruptions
Global experts on rice research and market trends convene in a webinar to share their insights and views on India’s recent export ban on non-basmati white rice. They discussed probable reasons behind the ban, its effects, and possible short- and long-term solutions, especially in relation to food security in vulnerable rice-importing countries amid the impending El Niño and the larger threat of climate change.
LOS BAÑOS, Laguna (29 August 2023) – Amid El Niño, the impacts of climate change, and the effect of the recent India non-basmati white rice export ban in the global rice market, experts on rice research and market trends shared their perspectives and insights in a webinar hosted by the International Rice Research Institute (IRRI) on 23 August 2023 where data shows that while the market has reacted to the export ban, it has not panicked. Experts provided stakeholders information on how to navigate the challenges faced by the rice sector these days.
Discussions and reports show that India’s main reasons for the ban were domestic, including rising food prices, high inflation, and a possible rice shortage because of El El Niño. However, as India is the biggest rice exporter worldwide, the impact is being felt globally, with rice prices increasing in Asia and Africa, including the Philippines, Bangladesh, Nepal, Senegal, Togo, among others.
Webinar speakers (top to bottom, left to right): Nguyen Do Anh Tuan, Mercedita Sombilla, Samarendu Mohanty, [moderator, IRRI Deputy Director General for Strategy, Engagement, and Impact, Joanna Kane-Potaka, Flordeliza Bordey, Harold Glenn Valera, IRRI Board of Trustees Chair Dr. Cao Duc Phat, Dr. David Dawe, and Dr. Abdel Ismail.
The experts examined different projections and estimates after the announcement of the rice export ban…