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| The Russian government announced on December 30 that it would extend the ban on rice exports and the ban will be effective until June 30, 2024. (Source: BNN) |
The Russian government announced on December 30 that it would extend the ban on rice exports until June 30, 2024. The decision was made to maintain stability in the domestic market. The ban will not affect the member states of the Eurasian Economic Union (Armenia, Belarus, Kazakhstan and Kyrgyzstan), the regions of South Ossetia and Abkhazia. In addition, rice can still be shipped abroad for humanitarian aid or transited through Russian territory.
Russia imposed a ban on rice exports starting July 29 this year with an initial term until December 31. Russia's decision came just a week after India, the world's largest rice exporter, banned exports of the crop to stabilize domestic prices.
Although Russia is known for its wheat, rice is also grown, mainly in the southwestern regions of the country, near the borders with Azerbaijan, Georgia and Kazakhstan. There is also a small amount of production in eastern Russia along the borders with China and North Korea. About 73% of Russia's rice is grown in the Krasnodar region.
The Russian government's rice export ban is aimed at protecting the domestic market after the Fedorovsky hydroelectric complex in the Krasnodar region suffered an accident in April 2022. This accident caused Russia's rice production in 2022 to drop to 797.6 thousand tons compared to the 1.076 million tons recorded in 2021. This is also the first time Russia has recorded rice production below 1 million tons in recent years.
The El Nino phenomenon, along with the conflict in Ukraine, has affected the global food supply and caused food prices to increase sharply. This has forced countries to come up with appropriate solutions to ensure domestic and international food supplies and avoid the risk of a global food crisis.
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