India’s rice crop suffers setback over poor rains

Bloomberg

Rice output in India may suffer this year as poor rains in key growing areas shrink plantings, raising concerns that the top exporter could curb shipments after restricting wheat and sugar sales to safeguard food security.
Total rice acreage in the South Asian nation,
the world’s second-biggest grower, has fallen 12% so far this season, according to the farm ministry. The crop is faltering at a time when rampant food inflation is hurting economies across the world, and is set to affect billions of people that depend on the staple. India accounts for about 40% of global rice trade.
Traders are worried that
the possibility of a decline in rice production may prompt the government to restrict
exports.