Tight supply: A farmer inspecting a paddy field. Much of the world’s rice shipments come from Asia where prices in key export hubs have risen around 30% to 40% in 2023. — Bloomberg
SINGAPORE: Asian off-season rice production is poised to take a hit as dry planting conditions, shrinking reservoirs and forecasts for continued El Nino weather are set to reduce early 2024 yields, further tightening supplies and spurring food inflation.
India, the world’s biggest rice exporter and No. 2 supplier Thailand are expected to see production from their off-season crops decline in the first quarter, while Indonesia, a leading importer, is still reeling from drought as farmers plant their crops, traders and analysts said.
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