Agriculture And Trade News

Red Sea Attacks: Impact on Global Rice Trade and Shipping Companies

Global rice shortages are worsening as India's exports face hurdles due to increased freight costs and disruptions in the Red Sea caused by attacks. The surge in tensions has led to a decline in exports of premium Indian basmati rice, affecting global rice shipments. India's ban on white rice and broken varieties has further exacerbated the situation, impacting markets in the Middle East and Africa. The shortage is also influenced by dry weather in key producing regions and ongoing conflicts in Israel-Gaza and Ukraine. As a result, rice prices are on the rise, and the impact is expected to last for a considerable period.