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Monday, May 6, 2024

Global rice trade shook by El Nino, politics, and embargo in Thailand

Rice field in Northern Thailand, green-trails.com.

In the face of mounting global food security concerns, the impact of El Niño weather patterns and international political disruptions are causing serious upheavals in the farming landscape, particularly in major global rice-producing countries.

Compounding the issue is Russia’s recent withdrawal from a vital agreement, which previously ensured the uninterrupted transport of Ukrainian grain goods through the Black Sea region.

Causing further complications, the past few weeks have observed the world’s biggest exporter of global rice, India, restricting shipments of non-basmati white rice—a type that makes up almost 25% of its export portfolio. As this type of rice forms the dietary staple for almost half of the world’s population, this decision, undertaken in a bid to stabilise local prices and mitigate the deepening food…

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