It’s not the world’s best photo, because it’s taken with my camera phone, but here is my bookazine on the shelves in my local Tesco!
Will the Rice Shortage Hit Store Shelves Near You Soon?
01.08.2023 - 19:31 / bhg.com / Abby Wilson
You may have already noticed that rice prices are higher than normal, which is largely due to the impacts of the war in Ukraine and erratic weather for the leading global suppliers of the grain. Now, India, the world’s largest exporter of rice, just banned nearly half of its overall shipments in order to reduce its domestic prices following heavy rains, which impacted the rice harvest. You might be asking, “What does this mean for me?”—we’ve got you covered. The good news is, if you’re worried about how the ongoing global rice shortage could impact your plate, you’re not alone, but you don’t need to panic.
The export ban in India covers non-basmati white rice, meaning that the most popular types of rice in the U.S. won’t really be affected much. However, for some South Asian groups in the U.S.—particularly Telugu communities of Southeast India, many of whom prefer the banned rice varieties—the ban has led to panic buying at smaller stores and large outlets, inflated prices, and restrictions from specialty grocers on how much each household can buy.
The good news is that unless you like the specialty rice varieties that are impacted by the export ban, you don’t need to stock up. And some grocers have said those looking for the heavily impacted Sona Masoori rice variety don’t need to panic either—stockpiling may just prolong the issue. Restaurants and suppliers will likely be the most heavily impacted by any shortages.
However, the ban does have the potential to impact inflation rates—and therefore food prices—worldwide. In 2022, India shipped nearly 18 million tons of the now-restricted non-basmati rice to 140 countries, meaning that the global market will see the impact of the export ban. The U.S. is steadily recovering
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