Southeast Asian Leaders Commit to Refrain from Trade Curbs Amid Rice Supply Concerns

1. Southeast Asian Leaders Commit to Refrain from Trade Curbs Amid Rice Southeast Asian Leaders Commit to Refrain from Trade Curbs Amid Rice Supply Concerns Supply Concerns ASEAN leaders commit to continue the exports of agricultural products and refrain from putting any “unjustified” trade barriers as the region is worried about the low grain production due to the impact of El Nino dry weather. On September 5, these ASEAN nations also committed to boosting the supply of emergency rice reserves, as the world is suffering from rice shortage. ASEAN countries are also working with Australia, Canada, and India to ensure and strengthen food security during the El Nino crisis. Reports stated that the procurement would release some pressure from the nations as it would help in boosting the rice supplies. In July, the major rice exporting nation India put restrictions on the rice export which surged the rice prices in the global market. The main reason behind India’s rice export ban was to fulfill domestic needs as the region is worried about the impact of El Nino which can decline India’s rice production. After this sudden ban, the reports are speculating possible restrictions on the export of grains from Asian nations. ASEAN Business Advisory Council Chair Mr. Arsjab Rasjib said, “Do not just think for the country. Do not just think for large corporations, with all these food estates. Make sure you do not leave anybody behind.”

2. ASEAN Rice Contribution to the World ASEAN Rice Contribution to the World ASEAN countries like Thailand, Vietnam, Indonesia, and Myanmar are among the world’s top rice- producing nations. These nations have favorable calamities and abundant water resources for rice production. In the last decade, ASEAN countries exported around 53% of the global volume over the last decade. This shows the dominance and dependency of rice exports on the ASEAN countries. ASEAN countries are also the major rice-consuming countries accounting for around 22% of rice consumption in the world. The Bottom Line The Bottom Line In conclusion, ASEAN leaders are committed to the flow of the grain supply in the global market as the world is suffering from grain shortage, causing a surge in prices. All the nations are concerned about El Nino dry weather which can decline the rice production across the globe. Tradologie offers the best platform for your needs if you're a rice importer looking to buy rice in bulk or a rice exporter looking to export rice in bulk. With the help of Tradologie.com, bulk rice trade is possible for all types. Tradologie.com platform makes it possible for customers to purchase rice, wheat, and spices, among other high-quality agricultural products, at flexible prices. Tradologie.com is a digital platform that connects buyers and sellers of bulk agro commodities across the globe. With the use of technology, Tradologie.com ensures seamless transactions between agro- exporters and importers. With 70,000+ certified vendors from more than 150 countries and 6000+ verified buyers worldwide, Tradologie.com is expanding quickly. If you want to register as a buyer, click here. If you want to register as a seller, click here. To stay updated about the latest developments in the agro-trading sector, follow Tradologie.com on all social media platforms.