"Export restrictions and extreme weather are threatening the global supply of a staple commodity relied on by millions," writes the Financial Times.
The sharp increase in the cost of this everyday staple can be traced to a crackdown by India, the world’s largest rice exporter, in response to fears of a production shortfall and rising domestic prices.
“It’s tough when a country that accounts for 40 percent of global trade slaps a ban on half of what they export, and duties on the other half,” says Joseph Glauber, a senior research fellow at the International Food Policy Research Institute.
Read the article.
Also published in Asia Economy (Korea).
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