Rice prices scale fresh 15-year high as supply risks lnger

KUALA LUMPUR – Rice prices reached a fresh 15-year high on mounting concerns that increased demand and the impact of El Niño will further tighten supplies of the grain that is a staple for billions across Asia and Africa.

Thai white rice 5% broken, an Asian benchmark, climbed 2.5% from the prior week to US$650 a tonne on Wednesday, according to the Thai Rice Exporters Association. That is the…