Rice Prices Scale Fresh 15-Year High as Supply Risks Linger
- Food inflation could stay elevated in rice-reliant countries
- Prices still rising in top shipper India despite export curbs
El Niño, which parches crops across Asia, is expected to cut Thai paddy output by about 6% in 2023-24.
Photographer: Luke Duggleby/BloombergThis article is for subscribers only.
Rice prices reached a fresh 15-year high on mounting concerns that increased demand and the impact of El Niño will further tighten supplies of the grain that is a staple for billions across Asia and Africa.
Thai white rice 5% broken, an Asian benchmark, climbed 2.5% from the prior week to $650 a ton on Wednesday, according to the Thai Rice Exporters Association. That’s the highest level since October 2008.