India’s rice export ban is boosting prices around the world, increasing the risk of political instability in Asia and Africa, according to the head of a United Nations agency. Prices for the crop, a staple for half the world, surged to the highest in almost 15 years after the top shipper began curbing exports. India
Workers load bags of paddy rice on a truck at the grain market in Ambala, India, October 9, 2022. Rice is a staple food for about half of the world’s population, with Asia producing and consuming about 90 percent of global supply.
“Rice, especially in Africa, can certainly bring potential conflict or social unrest, which at this moment in time would be quite dangerous,” Alvaro Lario, who leads the International Fund for Agricultural Development, said in a Thursday interview in New York. “Export bans have a lot of impact, especially on the most vulnerable, by raising prices and having a shock on prices,” he said. “Generally they are not positive, neither for the local populations in the medium term, nor for the other countries.”
Corn output from agricultural powerhouse Brazil is surging, making it more profitable to use the grain to produce ethanol—a key fuel that powers cars in Latin America’s biggest economy. As a result, mills that crush costlier cane are looking to produce more sugar and less biofuel.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
X social media's India, South Asia policy head Gupta resignsX is appealing against an Indian court ruling that it had failed to comply with government orders to remove certain content, arguing it could embolden New Delhi to block more content and broaden the scope for censorship
Read more »
Marini fastest after second India MotoGP practiceLuca Marini topped Friday's second practice session at India's MotoGP debut at the Buddh International Circuit.
Read more »
Stimac backs India to overcome 'big problem' at Asian GamesIndia's football coach Igor Stimac has had to change his squad list seven times since first announcing it for the Hangzhou Asian Games, with a lack of available players also proving an issue for other nations.
Read more »
Nipah virus outbreak in India's Kerala state: What do we know so far?Authorities in India are scrambling to contain a rare outbreak of Nipah, a virus spread from animals to humans that causes deadly fever with a high mortality rate.
Read more »
India's Nipah virus outbreak: what do we know so far?Authorities in India are scrambling to contain a rare outbreak of Nipah, a virus spread from animals to humans that causes deadly fever with a high mortality rate.
Read more »
OWWARAPPLER | Philippine & World News | Investigative Journalism | Data | Civic Engagement | Public Interest
Read more »