Rice Spike Is a Warning as Trade Barriers Multiply
Efforts to shield domestic markets are the surest way to make a bad global situation worse.
A farmhand sows rice saplings at a flooded paddy field in Bhivpuri, India.
Photographer: Indranil Aditya/BloombergWelcome to Energy Daily, our guide to the energy and commodities powering the global economy. Today, Agriculture Reporter Anuradha Raghu explains the risks from India’s grain export restrictions. Read how rising temperatures are wreaking havoc all year. To get this newsletter in your inbox, sign up here.
Rice prices are at their highest level in almost 15 years after India imposed export restrictions, with other curbs in the balance. It’s a reminder that efforts to shield domestic markets are the surest way to make a bad global situation worse.