Rice prices in Asia are at their peak in three years

Rice prices are climbing in Asia! It reached its highest level in three years after India banned a large portion of rice exports. Rice, which is seen as a staple food, also fuels global concerns in the food crisis. Rice prices skyrocketed in Asia. Prices spiked in Asia after India banned non-Basmati white rice exports, hitting a three-year high. This has raised concerns about the basic food supply for people around the world. According to the data of the Thai Rice Exporters' Association, Thai white rice, a benchmark for Asia, rose 5 percent to $572 per ton, according to Bloomberg's report. Thus, Thai white rice saw its highest level since April 2020. In the statement made by the Ministry of Consumer Affairs and Food of India on July 23, it was stated that the overseas sales of non-basmati white rice would be stopped immediately. "Domestic rice prices are on an increasing trend. Retail prices have increased by 11.5 percent in the last year." In the statement using the expression, ...