Fine rice price rises to ₹82/kg after monsoon forecast
India
Rice just got a lot pricier: fine rice now costs ₹82 per kg, up from ₹70, and a 26kg bag has shot up by ₹350.
The main reason? Less land was used for rice this year, linked to the forecast of a below-normal monsoon that factored in the likely impact of El Nino.
With less rain, farmers couldn't plant as much, so prices climbed.
Government urges shift to less-water crops
To deal with lower rice production, the government is encouraging farmers to switch to crops that need less water, like pulses and millets.
For now, fine rice is expensive, especially in southern India, but coarse rice prices haven't changed much.
Future prices will depend on how much new crop arrives and what the weather does next.