Mike Pearson takes a look at rice prices across the globe. A new report out shows after months of food inflation prices cooling, the trend has ended sending food prices higher in July due to rice prices.
India which is responsible for 40 percent of the rice produced has banned exports for the time being.
The government stopped exports due to erratic food prices. This has sent other nations scrambling to find new rice imports.
The Indian rice export woes haven’t hit American markets yet– but they are expected to hit it eventually which will send rice prices higher.
On the good side, experts…
