{
  "id": 18241002,
  "title": "Asian rice price climbs near 2-year high in inflation threat",
  "url": "https://urgent.news/2026/11/05/asian-rice-price-climbs-near-2-year-high-in-inflation-threat",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T03:10:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/05/asian-rice-price-climbs-near-2-year-high-in-inflation-threat"
  },
  "original_language": "en",
  "account": "A powerful El Nino weather phenomenon is causing rice prices in Asia to soar to their highest level in nearly two years, threatening to fuel inflation, according to a report. The benchmark Asian rice price reached a new high, affecting production of the staple grain across the region. Farmers are currently harvesting rice, but drier-than-usual weather has posed challenges for crops in key exporters like India, which is the world's largest exporter. Global production is expected to contract this season for the first time in over a decade, according to forecasts from the US agriculture department. This decline in output is driving up prices, with 5% broken white rice from Thailand, another major exporter, reaching a record high of US$499 per tonne as of Wednesday, the highest since December 2024, according to the Thai Rice Exporters Association. Similarly, Chicago rough rice futures have surged more than 80% since the beginning of the year. This price surge is occurring even as other major grains, such as corn and wheat, see falling prices. The El Nino weather pattern, one of the most severe on record, is linked to drier conditions across much of South and Southeast Asia, where over half of the world's rice is grown. In Thailand, the primary concern is for the off-season crop, which depends on irrigation, as stated by the USDA's Foreign Agricultural Service in a recent report. While higher wholesale prices take time to trickle down to retail markets, there are already indications of rising costs in some areas. For instance, rice prices in the Philippines, the world's largest importer, increased by 21% in October compared to the previous year, as reported by government data released on Thursday. Rice is a dietary staple in many parts of Asia, Africa, and the Middle East. The UN Food and Agriculture Organization also predicts a decline in global output during the 2026-27 season.",
  "summary": "El Nino is disrupting production of the staple grain, as drier-than-usual weather poses a hurdle for crops in major growers like India, the world’s leading exporter.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}