Following the panic buying of rice from departmental stores in the US after India announced a ban on the export of non-basmati rice, several stores in the country have put a limit on the number of rice bags customers can buy. Many customers also reported empty shelves at the stores when they visited to buy rice.
"Only one rice bag per family" read notices put up by multiple stores.
At the Indian store today for spices, I checked to see if rice prices went up due to the export ban.
I was shocked to see this.
Limits on quantities.Stock up on your staples NOW. Other countries are looking at the ban on rice and are stock piling. pic.twitter.com/kns8AtoQ3E
— Lisa Muhammad (@iamlisamuhammad) July 23, 2023
Several NRIs (non-residential Indians) also shared pictures of empty shelves at the stores -- possibly an outcome of panic buying fuelled by fears and misinformation of a complete ban on rice exports by India.
Impact of rice exports ban by India government in USA. No rice bag left .. pretty much same situation in all stores here ..#RiceBan #riceexportban #rice #Jansuraaj pic.twitter.com/dgg3aQ6NTo— Madhukar Singh (Kumar) (@madhukar_singh) July 23, 2023
Don't know if these empty shelves at Walmart today where Basmati rice is usually stocked, is related to the news of India's ban on rice exports but it wouldn't surprise me either. pic.twitter.com/GHXfI9RoAM— JJ Crowley (@JJCrowleyMusic) July 23, 2023
Earlier videos circulating on social media showed NRIs queueing up outside grocery and departmental stores to buy rice while others climb shelves and pull away heavy bags of rice.
Panic buying leading to this…yes it’s limited to one bag per family to ensure even distribution however situation is not that bad. Moreover Basmati rice is available everywhere— iSandeep (@sandeep1104) July 24, 2023
There are also fears of hoarding rice and selling it in online forums for a much higher price. "So all the desi stores are out of Indian rice. Every NRI family has bought 10-15 bags of rice because India has blocked the export of “non-basmati” rice. Therefore high IQ NRIs have hoarded 100-200 kg of basmati rice per family. And few are now selling it on Facebook marketplace," commented Niks (@niks_1985).
On Thursday, the Food Ministry said in a statement that the ban on the export of non-Basmati rice would "ensure adequate availability" and "allay the rise in prices in the domestic market". It cited 11.5 percent increase in retail prices over 12 months and that global demand saw Indian exports of non-basmati white rice jump 35 percent year-on-year in the second quarter.
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