Thai rice price surges amidst drought concerns

The world has been witnessing increases in the price of rice following drought concerns and India’s export ban, but it is Thailand’s rice that has seen the sharpest rise, according to the Food and Agriculture Organisation (FAO) of the United Nations.

In its monthly rice update issued on August 8, the FAO said that over the span of two weeks, quotations of Thai 100% B white rice jumped by US$38, raising the monthly average to $562 per tonne, the highest since February 2021.

The UN’s food agency also reported that its FAO All Rice Price Index rose by 2.8% in July to reach 129.7 points, up 19.7% year on year. This is the highest nominal value since September 2011.

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The Nation Reporter