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Rice is the staple food for over half of the world's population, and Asian countries grow and consume the majority of it.

Chaotic rains, heatwaves and floods in major rice-producing nations (China, India and Bangladesh) are threatening to reduce rice production and fuel food inflation across the world.


World Bank's agricultural price index suggests that maize and wheat prices were 2% higher in Aug 2022 compared to Jan 2022, while rice prices were about 6% higher.


The world's largest producer and consumer of rice, China, has suffered a significant yield loss and is expected to import a record 6 million tonnes of rice in 2022/23, according to the U.S. Department of Agriculture. China imported 5.9 million tonnes of rice a year ago.


According to the world bank, as of August 2022, at least 23 countries have implemented 33 food export bans, and at least seven have implemented 11 export-limiting measures.


Any disruption in rice supplies could further increase food insecurity in the world. According to the WFP, the number of people facing, or at risk of, acute food insecurity increased from 135 million in 53 countries pre-pandemic, to 345 million in 82 countries.

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