30-8-2023 (SINGAPORE) India’s Ministry of External Affairs announced on Tuesday that the country has made the decision to allow rice exports to Singapore. The move comes as India and Singapore maintain a close strategic partnership, characterized by shared interests, strong economic ties, and robust people-to-people connections, according to a statement from the ministry.
Recognizing the special relationship between the two nations, a spokesman from the ministry stated, “In view of this special relationship, India has decided to allow the export of rice to meet the food security requirements of Singapore. Formal orders regarding this will be issued shortly.”
The imposition of a ban on the export of non-basmati white rice in July by India came as a surprise to buyers. This ban followed a previous restriction on broken rice exports in 2022. As India grapples with the need to curb inflation ahead of state elections later in 2023, additional measures were taken on Friday to limit rice exports. A 20 percent duty on parboiled rice has been implemented, effective until October 15th.
India currently accounts for more than 40 percent of global rice exports. With other exporters experiencing low inventories, any reduction in shipments could further exacerbate the already rising food prices, which have been influenced by factors such as Russia’s invasion of Ukraine in February 2022 and unpredictable weather conditions.
