While global food prices eased in August, those of rice rose 9.8 percent compared to the previous month, “reflecting trade disruptions in the aftermath of a ban on Indica white rice exports by India”, the FAO said in a monthly report.
India announced in July a ban on exports of non-basmati white rice, which account for around a quarter of its total. World rice stocks are forecast to reach an all-time high of 198.1 million tons, with India and China holding nearly three quarter of this volume like in previous seasons, according to the FAO.But aggregate rice reserves held by the rest of the world are expected to end the year with a second successive contraction, it added.
The FAO said on Friday it had lowered its forecast for world trade in cereals in 2023 and 2024 to 466 million tons — a 1.7 percent drop from the previous marketing season.
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