Rice Faces Squeeze on Higher Fertilizer Costs and Booming Demand
- Indian monsoon rains are key to ensuring adequate supply
- Philippines set to boost imports because of a lower crop
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Rice production is under threat in parts of Asia from higher fertilizer costs at a time when demand is increasing, posing a potential risk to food security and efforts to contain inflation.
Crop yields may decline in Thailand, the world’s second-largest exporter, because of elevated prices for crop nutrients, according to a research unit of Kasikornbank Pcl, while in the Philippines, the No. 2 importing country, a lower harvest is likely to increase the need for overseas purchases. China’s worried about the crop impact of pests, while India’s output depends on a good monsoon.