Rice prices surge to fresh 15-year high

Rice prices surged to a fresh 15-year high, fueled by strong demand and lingering supply concerns.

Report informs via Bloomberg that Thai white rice 5% broken — an Asian benchmark — climbed for a third straight week to reach $659 a ton on Wednesday, according to the Thai Rice Exporters Association.

That’s the highest since October 2008 and brings the increase in prices to about 38% this year, after top shipper India restricted exports and dry weather threatened production.