• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

2

Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

3

The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns

1

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

2

Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

3

The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
Food and drink

Indians in America panic-buy after steep export cut: ‘I might have to substitute Basmati rice but it doesn’t taste that good, especially with South Indian dishes’

By
Bobby Caina Calvan
Bobby Caina Calvan
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Bobby Caina Calvan
Bobby Caina Calvan
and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 29, 2023, 6:07 PM ET
Woman in grocery store
Export cuts in India have a long ripple effect.Getty Images
Add Fortune on Google for similar content.

Chatter on one of Prabha Rao’s WhatsApp groups exploded last week when India announced that it was severely curtailing some rice exports to the rest of the world, triggering worry among the Indian diaspora in the United States that access to a food staple from home might soon be cut off.

Recommended Video

As in any crisis situation — think bottled water and toilet paper— some rushed to supermarkets to stock up, stacking carts with bags and bags of rice. In some places, lines formed outside some stores as panic buying ensued.

But Rao, who lives near Syracuse, New York, was reassured when the proprietor of her Indian market sent out an email to customers to let them know there was no need to worry: There was an ample supply of rice.

At least for now.

An earlier than expected El Niño brought drier, warmer weather in some parts of Asia and is expected to harm rice production. But in some parts of India, where the monsoon season was especially brutal, flooding destroyed some crops, adding to production woes and rising prices.

Hoping to stave off inflationary pressures on a diet staple, the Indian government earlier this month imposed export bans on non-Basmati white rice varieties, prompting hoarding in some parts of the world.

The move was taken “to ensure adequate availability” and “to allay the rise in prices in the domestic market,” India’s Ministry of Consumer Affairs, Food & Public Distribution announced July 20. Over the past year, prices have increased by more than 11%, and by 3% over the past month, the government said.

Non-Basmati white rice constitutes about a fourth of the rice exported by India.

“On WhatsApp, I got a lot of messages saying that rice was not going to be available. I think there was a lot of confusion in the beginning because, as you know, rice is very important for us,” Rao said.

“When we first heard the news, there was just mild confusion and people started panic buying because they thought that it may not be available,” she said.

There are scores of different varieties of rice, with people having their preference depending on taste and texture. India’s export ban does not apply to Basmati rice, a long-grain variety that is more aromatic.

The ban applies to short-grain rice that is starchier and has a relatively neutral flavor — which Rao says is preferable in some dishes or favored in specific regions of India, especially in southern areas of the country.

At Little India, a grocery store in New York City’s Curry Hill neighborhood in Manhattan, there was no shortage of Basmati rice and other varieties.

That wasn’t the case at other Indian groceries.

On its Facebook page, India Bazaar, an Indian grocery chain in the Dallas-Fort Worth area, told customers not to panic. “We are working hard to meet all our shoppers’ demands,” the post said.

Customers cleared shelves and waited in long lines to stockpile bags of rice, reported NBC Dallas affiliate KXAS.

“They really wanted to purchase ten, 12, 15 bags,” India Bazaar’s president, Anand Pabari, told the station. “It was a really crazy situation.”

India’s move came days after Russia backed out of a deal to allow Ukrainian wheat safe passage through the Black Sea, prompting warnings that the action could lead to surging prices.

Some economists say the ban might further hurt food supplies around the world, and some governments have urged the Indian government to reconsider the export ban.

At least in the United States, the supply of imported rice from India may not yet be a problem — despite the panic buying — but a long-term ban would certainly deplete that stock.

Roa says she and others will just have to adapt by purchasing rice grown in the United States or imported from other countries.

“I might have to substitute Basmati rice,” she said, “but it doesn’t taste that good, especially with South Indian dishes.”

A U.S. resident for three decades, Rao said she is accustomed to improvising.

“When we first came here, there was not even that much rice from India,” she said. “So I’ve learned to substitute, and I’m fine with the other brands that we get.”

About the Authors
By Bobby Caina Calvan
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Exclusive: Xbox’s CEO on 3,200 job cuts, four studios axed, and her blunt warning that ‘we spread ourselves too thin’
Microsoft
Exclusive: Xbox’s CEO on 3,200 job cuts, four studios axed, and her blunt warning that ‘we spread ourselves too thin’
By July 6, 2026
0 seconds ago
The yen is quietly crashing as Japan’s debt crisis bleeds into currency markets, and efforts to halt the slide are ‘doomed to fail,’ economist says
EconomyCurrency
The yen is quietly crashing as Japan’s debt crisis bleeds into currency markets, and efforts to halt the slide are ‘doomed to fail,’ economist says
By Jason MaJuly 6, 2026
2 hours ago
Strategy executive chairman Michael Saylor wears a microphone and looks into the crowd during a conference.
CryptoBitcoin
Strategy sheds $216 million in Bitcoin in crypto hoarder’s largest sale ever
By Camila Grigera NaónJuly 6, 2026
3 hours ago
‘All I did was ask for a review’: Trump denies demanding FIFA for a review of Folarin Balogun’s World Cup red card
PoliticsSports
‘All I did was ask for a review’: Trump denies demanding FIFA for a review of Folarin Balogun’s World Cup red card
By The Associated Press and Collin BinkleyJuly 6, 2026
3 hours ago
Taylor Swift’s wedding proves her biggest economic force is still her fans
NewslettersMPW Daily
Taylor Swift’s wedding proves her biggest economic force is still her fans
By Emma HinchliffeJuly 6, 2026
3 hours ago
‘Our business today is not healthy’: 1,600 Xbox employees among the 4,800 laid off by Microsoft as it looks to ‘reset’ gaming division
Big TechMicrosoft
‘Our business today is not healthy’: 1,600 Xbox employees among the 4,800 laid off by Microsoft as it looks to ‘reset’ gaming division
By The Associated PressJuly 6, 2026
3 hours ago

Most Popular

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
AI
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
By Marco Quiroz-GutierrezJuly 5, 2026
1 day ago
Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living
Success
Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living
By Preston ForeJuly 4, 2026
2 days ago
The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
Investing
The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
By Jason MaJuly 5, 2026
23 hours ago
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
4 days ago
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
AI
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
3 days ago
Gen Z was 'jaded about employment before we ever entered the workforce'—now psychologists say the stare has hardened into something worse
Economy
Gen Z was 'jaded about employment before we ever entered the workforce'—now psychologists say the stare has hardened into something worse
By Nick LichtenbergJuly 6, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.