Rice Prices Soar to 15-Year High as Demand Booms and Supplies Tighten
• Rice prices hit 15-year high of $659 a ton, up 38% this year due to India's export restrictions and weather threats • Strong demand from Asia and Africa amid tight supplies • Indonesia, Thailand, India agreeing to supply millions of tons to build stockpiles • Philippines set to receive over 500,000 tons of imported rice • Price surge could fan inflation and hike import bills for buyers