FAO Says Price of Rice Globally Hits its Highest Level in 15 Years

According to the Food and Agriculture Organization, global rice prices hit a 15-year high in August after the world’s largest rice producer, India, placed restrictions on some of the country’s exports of the grain.

Rice prices increased by 9.8 percent when compared to the previous month. This was “reflecting trade disruptions in the aftermath of a ban on Indica white rice exports by India,” the Food and Agriculture Organization of the United Nations (FAO) noted in a monthly report.