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A benchmark Asia rice price climbed to its highest level in over a year on Wednesday as concerns grow over harvests across the region.

Thai 5% broken white rice prices reached $446 a ton on Wednesday, marking the highest level since February 2025, according to the Thai Rice Exporters Association. The increase represents a third consecutive weekly gain.

The US Department of Agriculture forecast global rice production in the 2026-27 season to decline for the first time in 11 years.

Rising fertilizer and fuel prices have raised concerns that some farmers in Southeast Asia may skip planting of the current crop. India, the world’s largest exporter, faces the prospect of a lower-than-average monsoon. The country’s supply is grown during the annual rains, which are expected to be affected by the looming El Nino weather pattern.

Rice futures in Chicago this week reached the highest since August.

Rice is a major food staple, particularly in Asia. Prices remain below the multi-year peaks reached in 2024. The increase at the wholesale level risks feeding into broader inflation, with nations including the Philippines already seeing costs climb.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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