India is the world's biggest rice exporter by far. In 2022, it accounted for 40% of global rice trade by volume. More than half of India's rice that it ships abroad is actually the non-basmati variety. These varieties tend to be cheaper than basmati and are especially popular in poorer places such as Bangladesh,. The export ban will reduce their supply, which will drive up prices these countries pay.
The country is not new to seclusion, but under the aegis of the pandemic, Kim Jong Un tightened borders even more. His regime has enjoyed the extra control, but are things finally opening up? The world’s biggest rice exporter is banning rice exports and the developing world is going to feel the heat (10:13). And, a new approach to dairy – without cows (14:39).
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