Brazil Ban Rice Exports To Strengthen Domestic Supplies

Brazil has announced a temporary ban on rice exports from the country in order to ensure domestic supplies amid rising world prices for the grain.

Brazil's Agriculture Minister Reinhold Stephanes said in a statement that Brazil will not meet recent requests by African and Latin American countries for shipments totaling nearly 500,000 MT of rice.

Several Asian countries have recently suspended rice exports to guarantee their own supplies, causing an imbalance in world markets.