{"id":6537,"date":"2023-08-13T16:26:39","date_gmt":"2023-08-13T16:26:39","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=6537"},"modified":"2023-08-14T16:26:53","modified_gmt":"2023-08-14T16:26:53","slug":"global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/","title":{"rendered":"Global rice prices could surge higher as flood risks loom over China"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"630\" height=\"354\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-68.png\" alt=\"\" class=\"wp-image-6538\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-68.png 630w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-68-600x337.png 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-68-300x169.png 300w\" sizes=\"(max-width: 630px) 100vw, 630px\" \/><\/figure>\n\n\n\n<p>Chinese villagers growing rice seedlings in a paddy field in Qiandongnan, Guizhou Province, China on April 2023.<\/p>\n\n\n\n<p>Global rice markets could come under further strain as the world\u2019s leading rice producer China grapples with heavy rain and flood risks.&nbsp;<\/p>\n\n\n\n<p>\u201cHeavy rain in China\u2019s grain-producing north-eastern region that will reduce yields is likely to put upward pressure on already high global rice prices,\u201d Fitch Ratings said in a\u00a0recent report.<\/p>\n\n\n\n<p>China is the world\u2019s largest producer of rice, and\u00a0flood alert levels were raised\u00a0for three provinces that account for 23% of the country\u2019s rice output: Inner Mongolia, Jilin and Heilongjiang, the report pointed out.<\/p>\n\n\n\n<p>The world\u2019s second largest economy has been inundated by\u00a0devastating floods\u00a0in recent weeks. Typhoon Doksuri was one of the worst storms to hit northern China in years, with capital Beijing battered by the\u00a0heaviest rainfall in 140 years.\u00a0<\/p>\n\n\n\n<p>Fitch pointed out that many key grain production areas in those three provinces were affected by heavy rains and remnants of Typhoon Doksuri, and they\u2019re set to face \u201canother deluge as Typhoon Khanun moves north.\u201d<\/p>\n\n\n\n<p>The resulting soaked grain fields will reduce crop yields for the year, the Fitch report stated, although the full extent of the damage is not yet clear.<\/p>\n\n\n\n<p>\u201cThis will lift China\u2019s domestic grain prices and likely drive higher imports in 2H23 to partially offset the potential yield loss,\u201d the credit ratings firm said, adding the country may need to look to import more rice if its own harvests fall short, and that could drive global rice prices even higher.<\/p>\n\n\n\n<p>Global rice prices have surged\u00a0to their highest in close to 12 years, according to the\u00a0Food and Agriculture Organization All Rice Price Index.\u00a0<\/p>\n\n\n\n<p>Other market watchers are estimating\u00a0higher rice prices ahead\u00a0after India banned non-basmati white rice exports last month, and\u00a0Thailand urged farmers to plant less rice\u00a0in a bid to save water as a result of low rainfall.<\/p>\n\n\n\n<p>India, which accounts for more than 40% of global rice trade,\u00a0banned exports of non-basmati white rice\u00a0on July 20, as the government looked to tackle soaring domestic food prices.<\/p>\n\n\n\n<p>Rice prices are hovering at decade highs, with\u00a0rough rice futures\u00a0last trading at $15.98 per hundredweight (cwt).<\/p>\n\n\n\n<p>In addition to rice, the Fitch report also cited corn and soybean among major crops grown in Inner Mongolia, Jilin and Heilongjiang, which will be impacted by flood risks. China is expected to import more of both grains this year compared to the last.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese villagers growing rice seedlings in a paddy field in Qiandongnan, Guizhou Province, China on April 2023. Global rice markets could come under further strain as the world\u2019s leading rice producer China grapples with heavy rain and flood risks.&nbsp; \u201cHeavy rain in China\u2019s grain-producing north-eastern region that will reduce yields is likely to put upward [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[324,46,159],"class_list":["post-6537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-global-rice-prices","tag-asian-rice","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global rice prices could surge higher as flood risks loom over China - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global rice prices could surge higher as flood risks loom over China - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Chinese villagers growing rice seedlings in a paddy field in Qiandongnan, Guizhou Province, China on April 2023. Global rice markets could come under further strain as the world\u2019s leading rice producer China grapples with heavy rain and flood risks.&nbsp; \u201cHeavy rain in China\u2019s grain-producing north-eastern region that will reduce yields is likely to put upward [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/\" \/>\n<meta property=\"og:site_name\" content=\"Rice News Today\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-13T16:26:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-14T16:26:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-68.png\" \/>\n\t<meta property=\"og:image:width\" content=\"630\" \/>\n\t<meta property=\"og:image:height\" content=\"354\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Developer Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Developer Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/\"},\"author\":{\"name\":\"Developer Team\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd\"},\"headline\":\"Global rice prices could surge higher as flood risks loom over China\",\"datePublished\":\"2023-08-13T16:26:39+00:00\",\"dateModified\":\"2023-08-14T16:26:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/\"},\"wordCount\":424,\"publisher\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-68.png\",\"keywords\":[\"Global rice prices\",\"Asian Rice\",\"Global Rice News\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/global-rice-prices-could-surge-higher-as-flood-risks-loom-over-china\/\",\"name\":\"Global rice prices could surge higher as flood risks loom over China - 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