Economy

UAE Bans Rice Exports and Re-exports for 4 Months

UAE Bans Rice Exports and Re-exports for 4 Months

The Emirates News Agency (WAM) reported today, Friday, that the UAE has suspended rice exports and re-exports for four months, including Indian-origin rice. The UAE, which imports 90 percent of its food needs, stated that the ban includes all types of rice such as brown rice, wholly or partly broken rice, and broken rice. WAM added that companies wishing to export or re-export rice must submit a request to the Ministry of Economy to obtain export approval outside the country. This ban follows the Indian government's decision last week to halt exports of non-basmati white rice and broken rice amid rising prices, after monsoon rains caused significant damage to crops. Emirati media reported this week that local suppliers and retailers in the UAE were expecting prices to rise, albeit temporarily. Food price inflation has affected the UAE and Gulf countries throughout most of 2022, but they have begun to witness correction this year.

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