Rice risks hitting decade-high as Indian curbs rock market
India has banned a majority of rice shipments causing the price of rice to surge. Rice is a staple food in Asia and Africa and a hike in rice prices would push up imports and inflationary pressures for the region. Vietnam has already raised the price of rice to $600 a ton for 5% white rice causing Thailand to potentially do the same, which would push Thai prices to their highest since 2012.
Source: indiatimes.com