Rice prices soared to the highest levels in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports, media reports said.
Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008, according to data from the Thai Rice Exporters Association, Bloomberg reported.
That brings the increase in prices to almost 50 per cent in the past year.
Rice is vital to the diets of billions of people in Asia and Africa, and the surge in prices could add to inflationary pressures and boost import bills for buyers, the report said.
The latest threat to supply comes from Thailand, the second-biggest shipper. Authorities are encouraging farmers to switch to crops that need less water as the nation braces for drier conditions with the onset of El Nino, Bloomberg reported.
Cumulative rainfall in the key central growing region is 40 per cent below normal, and the move to curb planting is to conserve water for households. The government previously asked the growers to reap only one crop this year.
Last month, India widened its shipment ban to protect domestic supplies, spurring panic buying in some countries. The curbs exacerbated worries over a global shortage amid growing world consumption, Bloomberg reported.
The price surge will aggravate stresses in global food markets that have been rocked by wild weather and reduced grain supplies from the Black Sea region because of the Russia-Ukraine war.
3 satellite townships to be developed in Tripura: CM Manik Saha
Addressing the district level workshop on the deliberations of the 4th National Conference of Chief Secretaries at Rajarshi Hall in southern Tripura’s Udaipur, the Chief Minister said that these satellite townships would be developed in a planned manner with all basic facilities.
Assam Police foils drug peddling bid; narcotics worth Rs. 30 crore seized
Assam Police foiled a major drug peddling bid and narcotics worth Rs 30 crore were seized by the security personnel, Chief Minister Himanta Biswa Sarma said on Tuesday.
Country will prosper only when man and women enjoy equal rights: Minister Tinku Roy
The state social welfare and social education minister Tinku Roy on Tuesday chaired a daylong workshop on different schemes of his department and its execution and said that the country can prosper only if men and women enjoys equal rights.
Minister Sudhangshu Das emphasis on piggery to strengthen rural economy and generate employment opportunity
The Animal Resource Development Department minister Sudhangshu Das on Tuesday attended the state level seminar on “Pig Diseases with Special Reference to Classical Swine Fever”, held here at Agartala Rabindra Bhavan
Govt officials are driving force of Tripura’s development: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Tuesday attended the District Level Workshop on the 4th National Conference of Chief Secretaries' deliberations at Rajarshi Hall, in Udaipur and said that government is committed to implementing key takeaways for the welfare of the people of Tripura.
Youth dies after being run over by train
A tragic incident unfolded once again in the D.M. Colony area under the Teliamura Railway Police Station, where a man lost his life after being run over by a train. The deceased has been identified as Ajit Sarkar, a 36-year-old resident of the locality.
Govt aims to transform state into an education hub: CM Manik Saha
Dr. Saha said this while addressing the foundation day celebration of Lipika Dasgupta Memorial School at its premises in East Gakulnagar, Bishalgarh, Sepahijala District.
Five Bangladeshi held with fake Aadhaar cards in Udaipur
The Government Railway Police (GRP) in Udaipur, Gomati district, have detained five Bangladeshi nationals with forged Aadhaar cards after they illegally entered Tripura and attempted to travel to Gujarat in search of work.