Global rice prices have fallen to their lowest level in eight years, dealing a blow to many farmers in Asia. The main reason for the collapse has been a record harvest and the lifting of export bans in India. The Financial Times reports that export prices for Thai white rice with a 5% broken grain content, which is a global benchmark, have recently fallen to $372.50 per ton, which is 26% lower than the level at the end of last year and is the lowest since 2017. According to the Food and Agriculture Organization of the United Nations, the UN rice price index this year has fallen by 13%. "It's very simple: there is just too much supply. Last year, rice production in India reached a record level... The harvest they just collected will be another record harvest," said Samarendu Mohanty, Director of the Center for Sustainable Agriculture and Development Research at Professor Jayashankar Telangana State Agricultural University. Meanwhile, senior analyst at Rabobank Oscar Tjakra noted ...