India’s transfer to limit exports of sure forms of rice could assist exacerbate food price inflation and ought to be reversed, International Monetary Fund chief economist Pierre-Olivier Gourinchas stated on Tuesday.
Mr. Gourinchas informed a information convention that India’s restriction would have an impact much like the suspension of the Ukraine Black Sea grain export deal, serving to to drive up costs in different nations. He added that international grain costs could rise 10-15% this 12 months.
“In the current environment, these types of restrictions are likely to exacerbate volatility on food prices in the rest of the world, and they can also lead to retaliatory measures,” Mr. Gourinchas stated. “We would encourage the removal of these type of export restrictions because they can be harmful globally.”
