Rice Rallies Toward 15-Year High as Weather Again Batters Crops
- Brazil may have to import after heavy flooding in south
- Indonesia is still buying sizable volumes on world market
A dried up paddy field in Long Phu District, Vietnam.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
Weather is rattling the rice market once more, driving prices of the food staple back to the cusp of 15-year highs after a period of calm.
Supplies were already upended by sweeping export restrictions from top shipper India last year and worries that drier weather from El Niño would curb output in the important growing region of Southeast Asia. Now catastrophic floods in southern Brazil are adding to the jitters.