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Rice has an important role in food security, hence it is politically sensitive and susceptible to national government policy actions and private sector speculation practically everywhere in the world. Countries that import and export rice have distinct international trade policies.
India is the world's largest exporter of rice. India's dominance in the rice export industry remains unsurpassed, thanks to its vast range of types, including the aromatic Basmati rice. Subsidies, loan guarantees, state-controlled commercial monopolies, bans or limits on rice imports, and other policy tactics are used by countries to isolate their internal markets from external competition and increase exports. The government establishes minimum support prices and offers input subsidies at the farm level, in addition to laws governing procurement, stocks, and distribution.
As of 2023/2024, India had the world's greatest rice export volume, totaling 16.5 million metric tons. Thailand was the world's second-largest rice exporter in that year, accounting for approximately 8.2 million metric tons.
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