India's export ban on rice is reverberating through global rice markets, threatening food security if developing nations cannot afford or access rice.
India's rice exports make up 40% of the market, so any export bans quickly influence global prices.
U.S. rice farmers face the same volatile rice prices.
"Our farmers, they'll go up against any rice farmer," Michael Klein, vice president of communications and domestic promotion at USA Rice, told CNBC.
When U.S. rice farms struggled to stay profitable as global rice prices mismatched with rising input costs, Congress passed $250 million in supplemental funding.
Persons:
Rice, Peter Bachmann, Will Fletter, Bachmann, they'll, Michael Klein, USA Rice, Klein
Organizations:
CNBC, International Food Policy Research Institute, USA
Locations:
Africa, Southeast Asia, India, U.S