Russia’s invasion of Ukraine has driven up food prices around the world, but the situation is less grim in Asia. Rice, following bumper crops, has generally been cheaper this year.
Following successive bumper crops, rice has emerged as a rare food commodity that has generally been cheaper this year than it was last year.
That’s great news for the billions of people who live across the swath of Asia where the grain is a popular staple, from India to Thailand, Vietnam and Japan. The region encompassing South, Southeast and East Asia produces and consumes more than 80% of the world’s rice, according to data from the U.S. Department of Agriculture.
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