Rice Soars to Highest Since 2008 on Rising Threats to Supply
- Asian benchmark Thai white rice 5% broken jumps to $648 a ton
- Thailand urges farmers to sow crops that need less water
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Rice prices soared to the highest in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports.
Thai white rice 5% broken, an Asian benchmark, jumped to $648 a ton, the most expensive since October 2008, according to data from the Thai Rice Exporters Association on Wednesday. That brings the increase in prices to almost 50% in the past year.