Rice prices rose to a new 15-year high due to strong demand and ongoing supply issues.
According to the Thai Rice Exporters Association, Thai white rice 5% broken – an Asian benchmark – rose in price for a third straight week to reach $659 a ton on Wednesday.
That’s the highest since October 2008, and the price increase this year was about 38% after the leading shipper India restricted exports and dry weather jeopardized production.