India’s recent decision to restrict rice exports to the United States has reverberated through the global food market, raising concerns about supply disruptions and potential impacts on consumers and retailers.
In the wake of India’s announcement to ban the export of non-Basmati rice, panic buying ensued at department stores in the US.
To manage increased demand and ensure fair distribution, many stores have limited the number of bags of rice customers can buy.
This move comes as customers report finding empty shelves when trying to buy rice, highlighting pressure on rice supplies in the country due to export restrictions.
“Only one bag of rice per family” read the notices posted by various stores.
Videos circulating on social media show scenes of NRIs (non-resident Indians) lining up outside grocery and department stores to buy rice. Instead, others resorted to climbing shelves and pulling heavy sacks of rice.
Today at the Indian spice shop, I checked if the rice prices went up due to the export ban. I was surprised to see this. Quantity limits. Stock up on your essentials NOW. Other countries are looking at a rice ban and building up stocks. pic.twitter.com/kns8AtoQ3E
— Lisa Muhammad (@iamlisamuhammad) July 23, 2023
Impact of Indian government ban on rice exports on US No bag of rice left…pretty much the same situation in all stores here…#RiceBan #riceexportban #rice #Jansuraaj pic.twitter.com/dgg3aQ6NTo
— Madhukar Singh (Kumar) (@madhukar_singh) July 23, 2023
I don’t know if these empty shelves in Walmart today, where Basmati rice is usually stored, are related to the news of India’s rice export ban, but I wouldn’t be surprised either. pic.twitter.com/GHXfI9RoAM
—JJ Crowley (@JJCrowleyMusic) July 23, 2023
The situation is really bad in Texas, a relative shared photos yesterday of how they are allowed to buy only one bag https://t.co/N10XJiuqgB
— Richa Pinto (@richapintoi) July 23, 2023
The situation has raised concerns about possible hoarding practices, with some people allegedly selling rice at inflated prices on online forums.
Niks (@niks_1985) expressed on social media that many desi shops are now out of Indian rice due to India’s ban on exporting non-Basmati rice. As a result, some NRI families have hoarded large amounts of basmati rice, and some are trying to sell their excess supply on platforms like Facebook Marketplace.
In response to skyrocketing retail prices and a substantial 35 percent year-on-year increase in global demand for non-basmati white rice from India during the second quarter, India’s Ministry of Food issued a statement explaining the reasons for the export ban.
Twitter
The Ministry aims to ensure adequate availability of rice on the domestic market and alleviate rising prices by limiting the export of non-basmati rice. NRIs and authorities are closely monitoring the situation as it develops regarding concerns about supply dynamics and rice prices.
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Source: vtt.edu.vn