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In the long run, experts say India must modernise its agriculture, making farming more remunerative, and become more competitive to boost exports.

Jane is a novelist in Los Angeles for whom writing, while never particularly remunerative, has stopped being fun.

A less remunerative but equally effective option is for them to place the dollars as deposits at 2.8%, and use that as collateral for yuan loans, with net gains of around 2%.

Besides contributing to global food inflation, "export bans have other negative externalities, such as denting India's reputation as a dependable supplier and preventing farmers from benefiting from remunerative prices globally", say analysts at Nomura.

The government said that farmers would still be able to export other kinds of rice, including long-grain basmati, ensuring they "get the benefit of remunerative prices in the international market".