India Allows Rice Exports to Singapore
India's Ministry of External Affairs announced the decision to allow rice exports to Singapore, lifting the ban on non-basmati rice.
Last month, India surprised buyers by imposing a ban on non-basmati white rice exports, followed by a ban on broken rice exports last year.
India's move to rein in inflation ahead of state elections is driving the expansion of curbs on rice exports and imposing a 20% duty.
India's stake of over 40% in world rice exports and low inventories with other exporters may inflate food prices due to reduced shipments.
India's decision to allow rice exports to Singapore brings relief to buyers and may help stabilize global food prices.