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ST Explains: As El Nino threatens to disrupt rice harvests, how will it affect prices in S’pore?
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Around 90 per cent of the world’s rice is grown and consumed in Asia so higher prices pose inflation risks for the region.
PHOTO: EPA-EFE
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SINGAPORE – Rice prices are near 12-year highs as countries build up stockpiles amid fears an impending El Nino weather event will affect harvests in Asia.
Prices were already on an uptrend after India banned some shipments heavy rainfall flooded padi fields and damaged crops.
