India has banned the export of white rice to lower domestic prices, Indian media reported, sparking concerns about global food supplies. India accounts for 40% of global rice exports, making it the world's largest supplier.
Late monsoon rains have damaged crops, raising concerns of a production shortfall. Traders have announced that the ban is unlikely to reduce domestic prices but will increase prices in countries that import the grain from India.
Amid concerns of a global food crisis, Russia came under pressure in the United Nations Security Council to quickly begin shipments of Ukrainian wheat.
Several developing countries warned of the impact of the disruption in Ukraine's grain shipments, which has already led to a spike in wheat prices.
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