The Indian government has decided to completely ban the export of non-basmati rice with immediate effect in a series of fiscal measures to check the rising inflation in the recent months.

Indian Finance Minister P. Chidambaram hoped that the export ban and other measures including abolishing the import duty on crude edible oils would help India counter the rising inflation rates.

The ban from India is expected to wreak havoc on world supplies as shortage fuels record-high prices.