Rice Crisis Sends Prices To Highest Levels Since 2008… Uhh..Are Beans Next?

On Wednesday, the Thai Rice Exporters Association revealed that the price of Thai white rice 5% broken, a key Asian benchmark, reached the highest level since Great Financial Crisis. This surge is mainly attributed to increasing fears of a global shortage due to the damaging effects of the El Nino weather phenomenon on Asian farmlands and India’s recent decision to restrict certain rice exports.

Thai white rice 5% broken hit $648 per ton this week, the highest level since October 2008. Prices are up over 50% since the start of 2022.

The weekly change in rice prices is about a 13% surge, the largest since the index began in the summer of 2008.

https://www.zerohedge.com/commodities/rice-crisis-sends-prices-highest-levels-2008-amid-global-shortage-fears

Over the past few years, US pinto bean demand has appeared to increase due to increased exports and competitive prices. Are they eating more beans or is it an illusion? Luke Wilkinson investigates.

https://pulsepod.globalpulses.com/trade-talk/post/has-domestic-demand-for-pinto-beans-risen-in-the-usa-industry-experts-weigh-in-on-the-perceived-increase

After India’s rice export bans, some U.S. Indian grocery stores ration rice sales
https://www.npr.org/2023/08/03/1192016568/after-indias-rice-export-bans-some-u-s-indian-grocery-stores-ration-rice-sales

h/t Goneviral