16:58 - 9.08.2023

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Asian rice prices hit their highest level in almost 15 years after dry air threatened production in Thailand and banned rice exports to India.

ABC.AZ reports that according to the Thai Rice Exporters Association, Thai white rice, a benchmark for Asia, rose by 5% to $648 per ton, which is the highest figure since October 2008.

Over the past year, prices have risen by almost 50%.

Rice is essential to the nutrition of billions of people in Asia and Africa. Price hikes are expected to push inflationary pressures higher in these regions.
In India, the world's largest exporter of rice, non-Basmati rice accounts for about 25% of total rice exports.
India's Ministry of Consumer Affairs and Food announced on July 23, 2023 that export of non-Basmati white rice will be stopped immediately to prevent price increases in the domestic market.