Is the world running out of rice?

Soto Biryani and sushi what do these dishes have in common their main ingredient rice is facing its largest shortage in 20 years consumed by more than half of the world rice production is set for its largest shortfall in two decades and its prices are at 10-year highs so what's actually happening well a huge part of it has to do with the ongoing war in Ukraine Russia's Invasion has caused the search in prices of other grains so rice has become an attractive alternative but that's not all farmlands in China the world's largest rice producer were recently packed with hairy Summer monsoon rains and floods Pakistan was not spread either the global shortfall for 2023 would come in at 8.7 million tons marking the largest global rice shortage since 2004. rice is a vulnerable crop and has the highest probability crop loss as temperatures soar during an El Nino event which could threaten your

Channel: CNBC International

Views: 11,825

Keywords: CNBC, CNBC Explains, CNBC International

Id: WT3Dp346ZA4

Length: 0min 52sec (52 seconds)

Published: Thu Jun 15 2023