PUBLISHED : 10 Aug 2023 at 09: 28 A male compares various grains of rice at a wholesale market in Navi Mumbai, India, on Aug 4,2023 (Photo: Reuters) KUALA LUMPUR: A rise in rice rates to the greatest level in nearly 15 years is restoring fears that food expenses are going to get a lot more pricey for the world’s poorest individuals. The grain is essential to the dietplans of billions in Asia and Africa. Rice contributes as much as 60% of overall calorie consumption for individuals in parts of Southeast Asia and Africa, and that increases to 70% in nations like Bangladesh. The newest cost dive increases tension on worldwide food markets currently roiled by severe weathercondition and the intensifying dispute inbetween Russia and Ukraine. Thai white rice 5% broken, an Asian benchmark, climbedup to UnitedStates$648 a tonne this week as dry weathercondition threatens Thailand’s crop, and after top carrier India — which accounts for 40% of the world’s trade — ramped up export curbs to safeguard its regional market. “Higher rice costs will contribute to food inflation, especially for bad families in the significant rice consuming countries of Asia,” according to Joseph Glauber, a senior fellow at the International Food Policy Research Institute in Washington. “Countri
Read More.
