World’s Rice Glut Will Be Put to the Test With El Niño’s Return
- Global stockpiles are forecast to drop about 5% this year
- China, the Philippines and Indonesia are boosting imports
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The world is awash in rice with global stockpiles at close to record levels. El Niño’s arrival will put those reserves to the test.
The weather pattern usually brings hotter and drier conditions to Asia, which produces and consumes 90% of the global rice supply. Thailand, the world’s second-biggest exporter, has already asked farmers to reduce their planting because of lower rainfall.