May 21, 2024

AndronETalksNews

AndronETalksNews

India’s rice export ban triggers panic buying at US supermarkets – sparking costs of 20-pound bag to soar from $16 to almost $50

Daily Mail News UK

India’s rice export ban has triggered panic buying at US supermarkets, causing the price of a 20-pound bag to surge from $16 to almost $50 in some stores.

The south Asian country, which accounts for 40 percent of world rice exports, ordered a halt to its largest rice export category, non-basmati rice, on Thursday to calm domestic prices, sparking fears of global shortages.

Videos and reports shared on social media over the weekend show Indian-Americans standing in long lines or panic-buying rice in Texas, Michigan, New Jersey Alabama, Ohio, Illinois and California.

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