India's ban on small and medium grain rice exports has led to a rush on rice in Toronto, prompting store owner Sergio Mangalthu to implement limits and even kick out aggressive customers.
The surge in demand, along with supply issues caused by weather conditions in Asia, has driven rice prices up globally.
Sergio Mangalthu's Toronto store experiences a rush on rice after India bans rice exports.Mangalthu sets a limit of one bag per customer due to high demand.
Some customers become aggressive when faced with the limit, forcing Mangalthu to kick them out of the store.
Panic buying leads to customers climbing shelves and buying in excess, contributing to rising prices.
Thai white rice benchmark price exceeds $500/ton, up by over $100 from pre-pandemic levels. Rice is a crucial food for 3.5 to 4 billion people globally.
Alternating flood and drought conditions in Asia impact rice production. Thailand's production is limited due to weather, and Vietnam curbs exports for domestic food security.
Canada's rice imports are mainly from the U.S., and Indian Basmati rice remains unaffected. Panic-driven government actions have a ripple effect on global markets.
Royal Kerala Foods resists panic and hopes for a short-lived ban on rice exports.