Rice Leap may trigger a food crisis

In May, commodity markets experienced a record-high increase in Asian rice prices, rising by 20 percent— the highest monthly rate since 2008. This surge was driven by the effects of the dry "El Niño" climate phenomenon, geopolitical disruptions such as the closure of the Strait of Hormuz, which led to a 50 percent increase in fertilizer prices and higher irrigation costs. This rise has prompted Asian farmers to reduce their cultivated areas, threatening global rice supplies and raising fears of the potential emergence of a new international food crisis if these pressures continue.

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