The Russian government said on Saturday that it had imposed a ban on the export of rice and rice groats until December 31, 2023, in order to maintain stability in the domestic market.
"The government has imposed a temporary ban on the export of rice and rice groats. The restriction will be in effect until December 31, 2023," the government said.
The ban will not affect the member countries of the Eurasian Economic Union, South Ossetia and Abkhazia, the government also said. Rice and rice groats could be sent abroad for humanitarian aid, as well as within the framework of international transit transportation, the government added.
Rice is one of the most widely consumed staple foods in the world, particularly in Asia, where it forms a significant part of the diet. Overall, the annual average rice consumption per person stands at 67.5 kg as of 2023.
The global rice market is set to log its largest shortfall in 20 years in 2023, according to Fitch Solutions.
