The price of rice has risen by more than half in two weeks – and analysts are predicting worse to come. It could lead to a crisis for countries such as India, China and Vietnam, says James Moore

Pitifully low food stocks, dark warnings of severe penalties for hoarders, export bans and even the spectre of riots.

It sounds like a dystopian nightmare. But it is happening today. The price of rice – the staple foodstuff for more than 8 billion people around the world – has shot up by more than a half in just two weeks. What is more, analysts are predicting worse to come.

Traders have warned that popular Thai white rice could reach and surpass $1,000 a tonne in the next three months. ... Read full article