Rice prices at a two-year peak: El Nino hits production

Benchmark Asian rice prices climbed to roughly $499 per metric ton for Thailand’s 5% broken white rice, the highest level in about two years, as the El Niño weather pattern disrupts production. Global rice output is expected to decline for the first time in more than a decade, tightening supplies across a staple that feeds billions of people. The price surge matters because rice is a key food-security commodity, and export restrictions or weather-driven shortfalls could push costs higher for import-dependent countries. Watch next for confirmation of the projected global production drop and for any policy responses from major exporters such as Thailand and India.