Due to hostile weather and various natural disasters, rice production across Asia including India,
the world’s largest rice producer and exporter, has been low this year. As a result,
there is a fear of reduced supply and price increase in the global rice market in the coming days.
Rice is the staple food of a large part of the world’s population
And 90 percent of the world’s rice is produced in some Asian countries including India,
China, Vietnam, Bangladesh. Due to the corona epidemic and the Russia-Ukraine war,
the price of various crops including wheat and corn has increased, but the rice market has remained stable so far.
- The main reason for this is the bumper crop of the last two years and the large stockpiles of rice in the rice producing countries.
- But if the production falls, there will be a crisis in the supply of rice like wheat and other crops this year.
- According to a report by Reuters on Tuesday,
- more natural disasters such as floods, storms and droughts have occurred in the world this year compared to previous years.
- India’s rice-growing regions have seen scant rainfall this year, while heatwaves and heavy rains have hit several provinces in China.
- In addition, due to floods and cyclones, rice cultivation has also been disrupted in Bangladesh and Vietnam
- Due to these reasons, the production of rice in the world’s 5 largest rice producing countries has decreased compared to previous years.