Rice price hits seven-year high in global market amid supply side issues
One of the effects of the Covid-19 outbreak has been the rise in world food prices. The price of rice, the staple food of most people in Asia, has hit its highest level in seven years.
The market reference price of white rice 5 per cent (WR 5%) has increased by 12 per cent (data between March 25 – April 1), the highest since April 2013. Asia produces 90 per cent of the world’s rice and is also the region that accounts for the same proportion of rice consumers.
The Nation Reporter
