The Saudi Arabian government has proposed that rice importers consider raising their stocks of the grain by 50 % in order to stabilize the domestic rice market.

Saudi Arabia imported 958,000 MT of rice last year, making it the world's sixth-largest buyer, according to the US Department of Agriculture.

Inflation in Saudi Arabia, a mostly desert country which imports the bulk of its food needs, is just off a three-decade peak.

The Saudi government had said in May that it would swiftly provide land for stockpiling basic staples and would increase global investments to ensure its long-term food security.