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this post was submitted on 29 Aug 2023
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The law of unintended consequences. Do these farmers stop growing rice, banned export, and grow something else profitable. I'm guessing a government ban suggests price controls or curbs.
You can't change your crops that quickly.
Also, rice is probably still plenty expensive enough.
In India, the benefits of higher prices is rarely passed to the farmers. middlemen/ brokers hoard prodcuts and make hay.
Rice is one of the few crops where the govt sets a Minimum Selling Price (MSP) and farmer prefer it knowing their crop will atleast get them some returns. for most of the agri products, there is no MSP, and farmers have no way of knowing whether the crop they've borrowed money to plant and have slaved to grow & reap will fetch them any money. When even returns are not assured, profits are a distant dream. The financial situation of farmers caused by inconsistent returns is so terrible that almost all farmers are deep in debt and since
the 1970s an estimated 30 Indian farmers have been killing themselves everyday due to debt.
The situation is so dire that as of 2018, the Indian government has not published data on farmer suicides since 2015.
https://en.wikipedia.org/wiki/Farmers'_suicides_in_India
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