Concerns are starting to rise in Asia whether there will be enough food for everyone, especially when it comes to rice, which is the predominant resource for billions of people around the region. India is the largest supplier with large warehouses overflowing with rice and wheat on record harvests, proving that there is definitely no lack of supply.
Thailand is the second-largest shipper and has recently reported that it has enough rice to meet its export demands. Although, the price of Thai white rice has depreciated by 5% due to the worst droughts the country has seen in decades and increased demands from importers.
Yesterday the Asian export benchmark has risen more than 25% to US$564 a ton, which is the highest it’s been since 2013.
United Nations Food and Agriculture Organisation, David Dawe says that the countries are just operating out of an abundance of caution, they just want to make sure that they have enough supplies for themselves. Importers are also not taking any chances.”
“In the short term, rice prices will go up, but they won’t go up a lot.”
“I don’t think we’re going to see a price spike as we saw in 2008 where benchmark prices climbed to more than US$ 1,000 a tonne as nations curbed exports amid a global food shortage.”
China and India are the largest global producers and consumers of rice. In China alone, there are around 1.4 billion mouths to feed, due to this China has pledged to buy an exceeding amount from this year’s harvest to ensure supplies.
Vietnam is the world’s third-largest shipper and has temporarily suspended all new export sales to protect domestic supplies throughout the drought in the Mekong Delta. The Vietnamese PM has asked the trade ministry to submit an export plan before April 5, as shipments need to be controlled in order to ensure national food security. Myanmar has also said it may cut exports to avoid domestic shortages.
SOURCE: The NationStay updated with Samui Times by following us on Facebook.
Police Squash Major Hat Yai Drug Smuggling Operation
Pattaya Offers 50 Percent Discount To Domestic Tourists
Domestic Airlines Done With Social Distancing
Partial Solar Eclipse Visible Today On Koh Samui
Baby Elephants Electrocuted To Death By Orchard Fence
Russian Busted On Koh Samui For Using Fake Credit Cards
Thailand Is Policing Illegal Border Crossings
Poll Indicates Thais Want New PPRP Party Leader
Thousands Of Thai Workers Approved To Return To Taiwan
Unemployed Teacher Caught With Child Porn
- Regional News8 months ago
Koh Samui. 7-Eleven and Family Mart close overnight.
- Koh Samui News9 months ago
Samui Covid-19 update
- Breaking News8 months ago
Koh Samui’s first Covid-19 case
- Breaking News9 months ago
One dead, two injured after bar shooting in Samui
- Events8 months ago
Koh Samui is going into full lockdown
- Thailand News8 months ago
Bangkok booze ban and postponed holidays
- Regional News8 months ago
National curfew starts today
- Thai Life8 months ago
Thailand’s government officials extend tourist visas