Shipping catering management company MCTC is warning that seafarers could be affected if India’s ban on rice exports curbs supplies.
The country imposed restrictions on shipments of non-basmati white rice cargoes in July after heavy rains affected crops.
MCTC said it is closely monitoring global rice markets, as concerns rise over the decision.
“There are growing fears that seafarers could be one of the demand groups to be impacted if the restrictions hamper the supply of rice into the marketplace,” the company said.
India was aiming to dampen down inflation with the ban, which came days after Russia halted its Ukrainian grain export deal in the summer.
The move followed the failure of a 20% duty on India’s international exports introduced in September 2022 to limit overseas demand.
MCTC believes the ban has raised questions about the stability of the rice supply chain, which plays a vital role in providing sustenance to seafarers on vessels worldwide.
These restrictions have the potential to create a significant supply gap, leading to fluctuations in rice prices and affecting availability in major importing countries, the company said.
Kyriacos Georgiou, director of global operations, added: “MCTC understands the importance of consistent, high-quality provisions for seafarers. To address potential disruptions to the rice supply chain, we have taken several proactive steps to monitor the global rice market through a variety of data sources and market analyses.”
Alternative sources
The company has a worldwide network of suppliers, meaning it has been able to source alternative supplies.
Pricing will stay competitive, it said.
India is the world’s largest rice exporter, accounting for more than 40% of global shipments.
Non-basmati cargoes usually make up 25% of its exports.
