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India’s export bans rattle world food market: US Washington, June 10 “The Indian government’s decision to impose certain export bans on non-Basmati rice and edible oils has rattled international market. We can only adequately address this crisis if we discourage continued use of export controls that will harm India’s neighbours and drive up world food prices,” US under secretary of commerce for international trade Christopher A. Padilla said here yesterday. He said while the export bans were designed to increase short-term food security by imposing restrictions, these policies made the situation worse. He added that export restrictions took food off the global market, drove prices higher, and discouraged farmers from responding to market forces and investing in future production. As two of the world’s largest producer of agricultural goods, the US and India should refrain from the use of export quotas, “which will only exacerbate food shortages and inflate prices,” Padilla said. — PTI |
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