RSLudlum
Member
- Joined
- Dec 9, 2007
- Messages
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Kuwait's Asians feel pinch of India rice export ban
source
...Kuwait is already reeling under the impact of unprecedented inflation, with prices of basic foodstuffs registering more than 50 percent rise in the last few months. With inflation hitting an annual rate of 7.3 percent last October, people in this oil rich country find it hard to balance their monthly family budget.
...Many believe the Indian decision is likely to have a global impact as the country is the third largest exporter of rice -- a staple food in many countries. India had restricted its rice exports a few months back on account of what they called 'poor harvest' in the last few years. "This ban may be India's answer to the high oil prices," comments Abdul Salam, a Sri Lankan driver working with a private company without really knowing the implications of his statement.
So, is it safe to say there is a world-wide food supply/economic disaster looming over our heads??
