(Illustration: Eurasia)
"Russia has extended a temporary ban on rice exports. The ban will be in effect until June 30, 2024. The decision was made to maintain stability in the domestic market," the Russian government said on December 30.
The ban will not affect the member states of the Eurasian Economic Union (Armenia, Belarus, Kazakhstan and Kyrgyzstan), South Ossetia and Abkhazia. In addition, rice can still be shipped abroad for humanitarian aid or transited through Russian territory.
Russia imposed a ban on rice exports starting July 29, initially until December 31, saying it was aimed at stabilizing the domestic market. Russia's decision came just a week after India, the world's largest rice exporter, banned exports of the crop to stabilize domestic prices and guard against El Nino.
The El Nino phenomenon, along with the conflict in Ukraine, has affected the global food supply and caused food prices to increase sharply. This has forced countries to come up with appropriate solutions to ensure domestic and international food supplies and avoid the risk of a global food crisis.
Source
Comment (0)