The country’s ill-advised ban on many rice exports will drive up prices for the poorest countries unless they lobby for exceptions, says Mihir Sharma for Bloomberg Opinion.
that are already struggling with high debt levels and inflated food and fuel bills.
The fact is, for control-mad bureaucrats in New Delhi, export bans have become the first, not last, response to rising domestic prices.India shut down wheat exports In practice, however, farmers are the last thing on policymakers’ minds. If agricultural income was the government’s number-one priority, it would not shut down exports just as prices are rising and farmers have an opportunity to make a rare profit.If India is to take on a leading role in the world, it must understand that its decisions have global ramifications.
But it was also because other governments could lobby Indian officials to make exceptions for specific wheat shipments. A similar system will be put into place for rice.Commentary: Russia has pulled out of the Black Sea grain deal. Here's why it must be restored
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