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Rice Prices In Asia Soared To The Highest In Almost 15 Years, Over Concerns About Global Supplies

Rice News From Thailand <br>According to the most recent information from the Thai Rice Exporters Association, the cost of a <br>ton of Thai white rice increased to $648, the highest price since October 2008. Prices have increased <br>by nearly 50% in the last year. El Nino's arrival has resulted in drier weather, and the Thai <br>government is urging farmers to switch to crops that require less water.

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Rice Prices In Asia Soared To The Highest In Almost 15 Years, Over Concerns About Global Supplies

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  1. Rice Prices In Asia Soared To The Highest In Almost 15 Years, Over Concerns About Global Supplies The ban on the export of some varieties by the top rice supplier India and the threat of dry weather to Thailand's production caused rice prices in Asia to soar to their highest levels in nearly 15 years. Wild weather and fewer grain supplies from the Black Sea region as a result of Russia's conflict in Ukraine have already had an impact on the global market. Rice News From Thailand According to the most recent information from the Thai Rice Exporters Association, the cost of a ton of Thai white rice increased to $648, the highest price since October 2008. Prices have increased by nearly 50% in the last year. El Nino's arrival has resulted in drier weather, and the Thai government is urging farmers to switch to crops that require less water. The growing region's cumulative rainfall is 40% below normal, and the move to curb planting is intended to conserve water for households. The government had previously requested that growers harvest just one crop this year. India’s Rice Export Policy To stop the price hikes, the Indian government banned the export of non-basmati white rice last month. Retail prices for this variety of rice in the country were on the rise, rising by 3% in the previous month and 11.5% over a year. The rise in the price of rice, which is essential to the diets of billions of people in Asia and Africa, could increase inflationary pressures and raise import bills for consumers. Stress on the world's food markets will increase as a result of the rise in Thailand's rice prices following India's export ban.

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