On Wednesday, the Thai Rice Exporters Association revealed that the price of Thai white rice 5% broken, a key Asian benchmark, reached a new 15-year high. This surge is mainly attributed to increasing fears of a global shortage due to the damaging effects of the El Nino weather phenomenon on Asian farmlands and India’s recent decision to restrict certain rice exports.

Thai white rice 5% broken hit $659 a ton, the highest level since October 2008. Prices of the staple food that feeds billions of people worldwide are up over 50% since the start of 2022.

https://www.zerohedge.com/commodities/grain-feeds-world-hits-new-15-year-high