Rice prices have plummeted to 2015 levels.

The base price of rice in Asia has fallen to its lowest level in the past decade, which will lead to a reduction in food costs for households and countries dependent on imports. This is reported by Bloomberg. According to the Thai Rice Exporters Association, wholesale prices for Thai white rice with 5% damage fell by 1.9% to $355 per ton, which is the lowest since September 30, 2015. Although export prices do not immediately affect retail prices, cheaper supplies from leading producing countries such as Thailand may lead to a reduction in the price of rice, which is a staple food for Asia, Africa, and some parts of the Middle East. It is vital for billions of people and constitutes 50% of the diet of many residents of Southeast Asia. Rice prices, which in 2024 rose to a 15-year high due to high demand and supply concerns, are gradually decreasing as crop forecasts improve. According to the Food and Agriculture Organization of the United Nations, global rice production is expected ...