Soaring Rice Prices Stretch Budgets for Billions in Asia, Africa
- Rice prices in Asia jump to highest since 2008 on supply fears
- Farmers grapple with heat waves and drought as El Niño returns
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A surge in rice prices to the highest level in almost 15 years is renewing fears that food costs are going to get a lot more expensive for the world’s poorest people.
The grain is vital to the diets of billions in Asia and Africa. Rice contributes as much as 60% of total calorie intake for people in parts of Southeast Asia and Africa, and that rises to 70% in countries like Bangladesh.