Muscat – Following India’s ban on the export of non-basmati rice last month, the Ministry of Agriculture, Fisheries and Water Resources (MAFWR) has allayed concerns of a potential rice shortage in Oman.

In a statement, MAFWR said that it has been following up on developments that have taken place since the decision by India to stop the export of rice. ‘In this context, the ministry confirms, in coordination with government agencies, that the strategic stock of rice in the sultanate is safe and there is no cause for concern about its shortage or high prices.’

The ministry added that these actions are followed up periodically, situations evaluated and appropriate measures taken accordingly.

On July 20, India ordered a halt to its largest rice export category in a move that has roughly halved shipments by the world’s largest exporter of the grain, triggering fears of further inflation in global food markets.

The Indian government said it was imposing the ban on non-basmati white rice after retail rice prices climbed 3% in a month after late but heavy monsoon rains caused significant damage to crops.

The ban is the latest blow to the global rice market, where prices have risen 15-20% since September 2022 – this coming after a period of relative stability in the earlier part of that year, even as prices of other cereals were soaring due to the Russia-Ukraine war.