India Further Tightens Rice Shipments in Threat to Global Supply

(Bloomberg) — India, the world’s biggest exporter of rice, imposed more curbs on shipments of the grain in a move that’s likely to further squeeze global supplies of the food staple.

The government will set a floor price of $1,200 per ton for basmati rice exports, according to a commerce ministry statement. That will prevent some traders from trying to smuggle non-basmati white rice, which has been banned for exports, through customs masked as the more expensive aromatic variety, the government said on Sunday.