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Dubai: Prices of rice and pulses - two staple food items - are expected to jump in the local markets in the next few weeks due to a ban on exports by India and Pakistan.
"As such the prices of essentials are already high, we anticipate a shortage in supply in the local markets due to restrictions by India on rice and Pakistan on pulses," Ashraf Ali, executive director of Emke Group, which operates the largest chain of hypermarkets in the Gulf, told Gulf News.
"We are already looking at alternative sources to import rice and pulses to maintain the flow of supply. However, regarding prices, we will have to check with suppliers."
News agency Reuters yesterday said, Indian restrictions on rice exports will spur global price rises and help fellow exporters like Pakistan and Thailand because overseas sales from India will fall to a fraction of last year's, a trade body said.
Exports from India are likely to fall to 250,000 tonnes this financial year from 5.5 million tonnes in 2007/08, Sanjay Sethia, president of the All India Rice Exporters' Association, told Reuters in an interview on Tuesday.
"Pakistan, Thailand and other exporting countries will make money, while India will lose out," he said.
India banned non-basmati exports on Monday to try to ease pressure on prices, which has pushed wholesale price inflation to a 14-month high.
Your comments
Comments are written every now and then by people of all sectors explaining their problems and woes and concerns regarding inflation and high standard of living. But is there any one who is really listening to us?
From mufiz
Dubai
u.a.e
Posted: April 02, 2008, 14:01
With already an inflation in the economy here, I guess this was expected. This is only making life here worse day by day.
Suneeth
Dubai,UAE
Posted: April 02, 2008, 12:52
The rising cost of living is just sky rocketing. Already many of my co-workers are considering going back home to their country of origin, as with the spiralling cost of living it does not make any sense to continue living in the UAE, considering most leave their families behind to make money elsewhere. It will be only a matter of time before a lot of expatriates leave for their home countries. I am considering the same myself.
Sanjeev
Dubai,UAE
Posted: April 02, 2008, 08:19
This is a very good decision which has been taken by the Indian Goverment, and I appreciate it.
Mohammad
Abu Dhabi,UAE
Posted: April 02, 2008, 07:51
The GCC is increasing its oil price for its own benefit, so this is also for our own interest. Put the oil price at $50, then everything will be smooth. If they make oil prices $200, then 1kg rice will cost Dh100 in the UAE. So Gulf countries will suffer because of their oil pricing policy.
MC
Kerala,India
Posted: April 02, 2008, 04:48
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