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Rising food prices are likely to prove an additional concern for central bankers trying to subdue inflation as the cost of rice - a staple food in Asia - surges the most since 2008, according to HSBC Holdings Plc.
Export prices for rice from Thailand, a global benchmark, jumped to more than $600 a ton, almost a 50% year-on-year increase.
Rising food prices are likely to prove an additional concern for central bankers trying to subdue inflation as the cost of rice—a staple food in Asia—surges the most since 2008, according to HSBC Holdings Plc. “The memory of the 2008 Asian food price scare sits deep,” economists led by Frederic…
This latest shift has been buoyed by the Beijing-led Regional Comprehensive Economic Partnership (RCEP), which came into effect in 2022.
World's second-largest economy risks missing Beijing's annual growth target of around 5pc