Rice on Cusp of Fresh 15-Year High in Asia After Sharp Rebound.

Rice prices in Asia are on the verge of reaching a 15-year high, which could have significant implications for regions like Asia and Africa where rice is a staple food. The price of Thai white rice, a benchmark in Asia, has risen by $57 in the past two weeks to $640 per ton. This increase is due to higher demand from unexpected buyers like Brazil and the Philippines, as well as export curbs imposed by India. Rising rice prices have led to higher inflation in countries like Indonesia and the Philippines. Additionally, the onset of El Niño is expected to further reduce rice supply in the region. [Extracted from the article]