Sufficient rice quantity and stable price keep inflation pressure in Asia relatively low

Published 2022년 6월 29일

Tridge summary

The article highlights the impact of the Russian-Ukrainian conflict on global food prices, with a focus on the stability of rice prices despite global inflationary pressures. The Asian Development Bank points out that the abundant rice supply, resulting from significant harvests in major producing countries like China and India, has played a crucial role in keeping inflation in developing Asia low. However, the article also raises concerns about the potential shift of rice farmers to more profitable crops due to falling rice prices and increasing costs of fertilizers and other essentials. This shift could impact future rice supplies and stability, underscoring the need for sustainable solutions to maintain rice production and global food security.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Russian-Ukrainian war has made global food prices higher and increased inflationary pressures. However, rice is the staple food in Asia and is an important producing area. It has not been affected by the war and has sufficient supply to stabilize prices. The Asian Development Bank pointed out that this is the main reason for the relatively low inflationary pressure in Asia. . The World Bank said global corn and wheat prices rose 27 percent and 37 percent between January and mid-June, but rice prices fell about 17 percent due to abundant supplies. The bumper harvest of rice last year made the price of rice this year lower than last year, which is one of the few food commodities that did not rise but fell. The United Nations Food and Agriculture Organization (FAO) said that China, India, Bangladesh, Indonesia, Vietnam and Thailand and other major rice-producing countries had bumper harvests, bringing the total global rice production last year to a record high of 521 million ...

Source: Turnnewsapp