India's protectionist moves spark concern that rice may be next target

India has stockpiled more than enough rice and prices have been under control.

Rice may be India’s next food protectionism target after it restricted wheat and sugar exports, analysts say, a move that could have a devastating impact on global food security as it’s an important staple. 

India’s curbs on wheat and sugar exports sent shock waves through global markets as it marked an escalation in food protectionism that’s seen countries choke off flows of locally-grown supplies to the world. A similar move on rice by the No. 1 exporter at a time when crops like wheat and corn are soaring would threaten to plunge millions more into hunger and boost inflation risks.