Rice prices climb across Asia amid El Nino concerns
Rice prices across Asia are climbing fast.
India's 5% broken parboiled variety just hit $362 to $368 per ton, the highest level in nearly a year.
Tight supplies and concerns about El Nino's impact on harvests are making food security a big topic worldwide.
Vietnam and Thailand have also seen price hikes, with demand from countries like Malaysia and the Philippines pushing things higher.
Bangladesh imports rice from Vietnam
Bangladesh is importing rice from Vietnam to ease high domestic rice prices, while Vietnam Food Association is looking at new minimum export prices on the country's fragrant rice exports and domestic fresh paddy to help farmers.
Despite trade hiccups in the Gulf, India's rice exports rose by 5% in the first half of 2026, with higher shipments of non-basmati rice offsetting a drop in basmati exports after the U.S.-Israeli war on Iran disrupted trade with key Gulf markets.
All this shows how crucial rice is for global markets right now.