“Rice prices are on the verge of hitting new 15-year highs as the damage effects of the El Nino weather phenomenon across Asia have damaged farmlands, leading to dwindling supplies.
Thai white rice 5% broken hit $640 per ton this week. These prices are back to levels not seen since October 2008. Prices are up over 50% since the start of 2022.”
Analyst Comment: India has been restricting Rice exports amid low production in an effort to curb potential shortages in the nation. Higher rice prices typically mean higher civil unrest. Stay tuned for increased protest activity and unrest throughout Asia, Africa and the Middle East.