Global stockpiles are forecast to drop about 5% this year
The world is awash in rice with global stockpiles at close to record levels. El Niño’s arrival will put those reserves to the test.
The weather pattern usually brings hotter and drier conditions to Asia, which produces and consumes 90% of the global rice supply. Thailand, the world’s second-biggest exporter, has already asked farmers to reduce their harvest because of lower rainfall.
Historically, rice yields have been lower during El Niño years, and in some cases, much less. Last week, the US announced the official arrival of the weather phenomenon, with a high…
