Global rice price jump 9.8 percent, 15 year record

TABLOIDSINARTANI.COM, Jakarta -- The surge in global rice prices reached its highest peak in the last 15 years, sending a serious warning signal for global food stability. According to FAO, this 9.8 percent increase could have a significant impact on food access worldwide. According to the FAO report, international food commodity prices decreased by 2.1 percent in August compared to July. Meanwhile, the rise in rice prices was striking, with a jump of 9.8 percent in August, recording the highest price in 15 years when compared with the previous month. The increase was triggered by a rice export ban imposed by India since July, which was further exacerbated by a seasonal lull in rice production in the northern hemisphere. FAO recorded falling prices for most important commodities, including grains, cereals, vegetable oils, dairy products and meat. The decline in grain and cereal prices by 0.7 percent was due to abundant harvests from major producers. Likewise, corn and wheat prices ...