Rice prices fall to 16-year low

Prices for rice in the Asian region fell to a 16-year low amid the decision of the Indian authorities to ease export restrictions, – reports Bloomberg.

Thus, the price of Thai white rice of 5% purity on Wednesday decreased by 11% to 509 $/t, which was the largest daily drop since May 2008.

Billions of people around the world consume rice as a staple food, and in some regions of Africa and Southeast Asia it is the main source of calories.

At the same time, the agency emphasizes that prices for other foodstuffs continue to rise amid climate change and deteriorating weather conditions that negatively affect harvest volumes.

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Tags: prices, rice