Asian rice price nears two-year high on inflation fears
In short
A key Asian rice price rose to its highest level in almost two years. The report says El Niño is disrupting rice production, and that this could push food inflation higher.
What the reporting says
A benchmark Asian rice price climbed to its highest level in almost two years, according to the market summary, as El Niño disrupted production of the staple grain.
Why it matters
A benchmark Asian rice price reached its highest point in almost two years, with the summary linking the rise to El Niño-related production disruption.