According to the Food and Agriculture Organization of the United Nations (FAO), world rice prices in July were 19.7% higher than the same period last year, rising to the highest level since September 2011. The highest price increase came from Thailand – the world’s second largest rice exporter.
One of the main reasons mentioned by FAO is India’s ban on ordinary rice exports from July 20 to curb food inflation in the country.
Although ordinary rice accounts for only a fraction of rice exports, as India accounts for more than 40% of the global rice trade, it “raises concerns about food security for a large segment of the population.” world” – according to FAO.
Hot forecast on world rice prices