Global rice prices surge close to 12-year highs, and could rise even more
Publishing timestamp: 2023-08-09 21:13:34
Summary
Rice prices have surged to their highest level in almost 12 years due to India's rice export ban and adverse weather conditions. The FAO All Rice Price Index rose by 2.8% in July, reaching its highest value since September 2011. The sharpest price increases came from Thailand, and concerns over the potential impacts of El Nino on production further contributed to the rise in prices. India's export ban raises food security concerns for a large portion of the world population. The article also mentions the possibility of prices surging further if other countries implement export restrictions, and the potential risks of El Nino on global rice production.
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Keywords: weather, india, rough rice (mar'23), business news, environment, food and drink, agriculture, commodity markets,