India, the leading rice exporter in the world, is likely to lift their rice export ban and restrictions.

This is another example of easing the food security scheme adopted by many countries after the Ukraine invasion by Russia negatively affected food supplies.

A source close to the Indian officials concerned said that the government officials were eagerly considering lifting the rice export ban and restrictions after seeing price stability in the domestic rice market. This source who did not wish to be named said that the buffer stock in the hands of the government was enough for supply to the government's welfare schemes.

India supplies 40% of rice in global trade so that the rice price across Asia will likely to be weakened if India eases its rice export ban and restrictions.

India is discussing to ease rice export ban and restrictions as concern for rising food prices in the global market is lowering.

Food prices rose sharply in 2022 because of the Ukraine war and climate change but these prices fell back at the year end to the level at the beginning of that year.

But the spokesman of the Ministry of Food Supplies and Trade declined to give comment on this matter.

The abundant supply of rice in the market eased and facilitated the government’s plan of procurement of rice for its welfare schemes.

According to the figures released and updated by the Indian government's Food Supplies Corporation until 1 January this year, the government could buy 53 million tons of paddies from 2022-23 new crops and it this represented an 11% growth year on year.