Harsh weather affecting top exporters puts global rice supply at risk

Unfavorable weather in top rice-producing countries in Asia, including the biggest exporter India, is posing threats to the global supply of the most important food staple in the world, which could worsen food inflation.

Over the past two years, despite bountiful crops, high exporter stocks, Covid-19 supply interruptions, and most recently, the Russia-Ukraine crisis, rice has worsened the trend of rising food prices.

“An increase in rice prices would add to already major challenges for food affordability in parts of the developing world,” said Phin Ziebell, an agribusiness economist at National Australia Bank.

According to an analyst, four of the top five rice producers in the world may have reduced yields as a result of patchy rains in India’s grain belt, a heatwave in China, floods in Bangladesh, and quality declines in Vietnam, farmers, and traders.

Analysts and official organizations have not yet evaluated the entire scope of shortages in nations other than India. BKM/ Expat Media

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