Rice production is facing a major shortage due to climate-related factors such as floods, droughts, and severe weather. This puts food security and livelihoods at risk as prices rise.
Rice prices to climb on the back of India’s export ban
The ban implemented by India has caused uncertainty among rice exporters worldwide. With the largest supplier out of the market, traders in various countries are anxiously waiting to see how prices will be affected before making new deals
The country, which is the second-largest exporter of rice in the world, has asked its farmers to plant only one crop this year, instead of the usual two, to conserve water and avoid crop failure.
While ASEAN’s staple food is rice, there has been increased demand for wheat, soybean and maize over the past decade — an increase that ASEAN production cannot meet.
