Set to blow. Worst rice shortage in 20 years will affect world this summer: Russian interference with Ukraine grain not helping: unnecessary crisis
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The shortage is a result of Russia’s ongoing war in Ukraine and the bad weather in rice-producing countries, including China and Pakistan.
The war has increased the cost of major grains like wheat, which has then increased the demand for grain alternatives such as rice.
Moreover, Hart noted that the shortfall is due to “an annual deterioration in the Mainland Chinese harvest caused by intense heat and drought as well as the impact of severe flooding in Pakistan.”
China, which is the world's largest producer of rice, and Pakistan, which produces?around 7.6%?of the world's rice supply, has been greatly affected by severe monsoon rains and floods last year.
The falling rice production will significantly affect the Asia-Pacific region, which consumes 90% of the world’s rice.
The countries that have consumed the most rice from?2019 to 2022?include China, India, Bangladesh, Indonesia, Vietnam, Philippines, Thailand, Burma, Japan and Brazil.
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The repeated interference of Russia in terms of wheat supplies from Ukraine will be this time deadly as to the survival of millions of people,.
A. Russia will continue to weaponize the shortages and use them as a cudgel to force cut off of supplies to Ukraine , while blaming the shortages on the EU, Ukraine and America
B. The BRICS will roll out their alternative to the US dollar when the worst of the famines hit, claiming their currency is being introduced to "fight" allegedly induced US starvation of the third world, when in fact it is a RUSSIAN Federation creation'
C. China will, if up to 100 million Chinese have short rations, a decision to make as to the benefits, if any of ANY neutrality toward the Russian Federation and Ukraine in this war,. I suspect the resolution of that situation will NOT go as Vladimir Putin wants
D. Marjorie Greene, as Putin's most loyal student will continue to parrot in the US Congress any lines put out by the Russian Federation to the US Media, to Kelvin McCarthy and worse, and the House of representatives
In all a daunting summer. If Greene tries to force her way into the Vice Presidential slot of whatever GOP Candidate runs in 2024, this rumpus will continue unabated through 2025 due to HER
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Why the world is set to face its worst rice shortage of the past 20 years
Michelle De Pacina
Fri, April 21, 2023 at 1:20 PM EDT·2 min read
This year’s production of rice is set to face the biggest global shortage in decades, according to a new report.
As the global rice market has been dropping, the industry is expected to log its?largest deficit?between supply and demand in 20 years, which means rice prices are expected to remain high until 2024.
According to finance and insurance company Fitch Solutions'?report, the price of rice averaged $17.30 per hundredweight (cwt) through 2023 year-to-date and is only expected to go down to $14.50 per cwt in 2024.
“At the global level, the most evident impact of the global rice deficit has been, and still is, decade-high rice prices,” Charles Hart, the company’s commodities analyst, told CNBC.
The shortage is a result of Russia’s ongoing war in Ukraine and the bad weather in rice-producing countries, including China and Pakistan.
The war has increased the cost of major grains like wheat, which has then increased the demand for grain alternatives such as rice.
Moreover, Hart noted that the shortfall is due to “an annual deterioration in the Mainland Chinese harvest caused by intense heat and drought as well as the impact of severe flooding in Pakistan.”
China, which is the world's largest producer of rice, and Pakistan, which produces?around 7.6%?of the world's rice supply, has been greatly affected by severe monsoon rains and floods last year.
The falling rice production will significantly affect the Asia-Pacific region, which consumes 90% of the world’s rice.
The countries that have consumed the most rice from?2019 to 2022?include China, India, Bangladesh, Indonesia, Vietnam, Philippines, Thailand, Burma, Japan and Brazil.
“Given that rice is the staple food commodity across multiple markets in Asia, prices are a major determinant of food price inflation and food security, particularly for the poorest households,” Hart said.
Oscar Tjakra, a senior analyst at global food and agriculture bank Rabobank, told CNBC that the deficit is also set to “increase the cost of importing rice for major rice importers such as Indonesia, Philippines, Malaysia and African countries in 2023.”
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Andrew Beckwith, PhD