By Alexander Miller, emerging markets consultant – Eurasia Business News, July 31, 2023

A temporary ban on the export of rice and rice cereals is being introduced in Russia, the restriction will be valid until December 31, 2023, according to the website of the Russian government.

The corresponding decree was signed by Russian Prime Minister Mikhail Mishustin.

“There are a number of exceptions for the export of rice and rice cereals. The ban will not apply to the supply of these products to the member states of the Eurasian Economic Union, as well as Abkhazia and South Ossetia,” the resolution says.

The Russian government added that “in addition, rice and rice cereals can be sent abroad for humanitarian assistance, as well as within the framework of international transit traffic.”

“The temporary ban on the export of rice and rice cereals was approved by the subcommittee on customs-tariff and non-tariff regulation, protective measures in foreign trade of the government commission on economic development and integration,” says the document.

The Russian government added that this decision was made to maintain stability in the domestic market, meaning to lower inflation on rice.

At the end of June, the Ministry of Agriculture of the Russian Federation proposed to extend the ban on rice exports until December 31, 2023.

This restriction was initially put in place on July 1, 2022, and has been extended multiple times.

China is the largest producer of rice in the world, with an annual production volume of 211.4 million tons while India is the second-largest producer of rice in the world, with an annual production volume of 177.64 million tons.

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