Rice risks hitting decade-high as Indian curbs rock market

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India has banned a majority of rice shipments causing the price of rice to surge. Rice is a staple food in Asia and Africa and a hike in rice prices would push up imports and inflationary pressures for the region. Vietnam has already raised the price of rice to $600 a ton for 5% white rice causing Thailand to potentially do the same, which would push Thai prices to their highest since 2012.

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