Inclement Weather Threatens World Output of Rice

Unfavorable weather experienced by top rice suppliers across Asia threatens to lessen output and further add to already sky-rocketing food inflation.

With the Russia – Ukraine war and even COVID-19 disrupting the global supply and making the other grains more expensive.

Experts say that the bad weather experienced by countries in Asia that export 90% of the world’s rice output, is expected to modify the trajectory of rice price.

“There is an upside potential for rice prices with the possibility of production downgrades in key exporting countries,” mentioned Phin Ziebell, an Agribusiness Economist at National Australia Bank.

“An increase in rice prices would add to already major challenges for food affordability in parts of the developing world,” said Ziebell.

UN Food and Agriculture Organization Economist, Shirley Mustafa said that “We are now witnessing weather-related setbacks in some key rice-producing countries, including India, China, and Bangladesh, which could result in lower output if conditions don’t improve in the next few weeks,”

She adds that “Rice has remained accessible even as overall food prices reached record levels earlier this year,”

A heatwave in China, floods in Bangladesh, quality downgrades in Vietnam, and Patchy rains in India’s grain belt can potentially affect the yields of the four world’s top rice producers.

India’s rice-producing states have noted a monsoon rainfall deficit of around 45% so far as reported by their government weather department.

India and Thailand are already experiencing the effects of the harsh weather with price increases in their exports.

Source: Inquirer