Experts warn El Niño might hamper rice production

El Niño could disrupt the rice supply across Asia, which accounts for 90 per cent of global production of rice, experts warned.
Dry weather caused by the El Niño climate pattern negatively affected rice production in Asia. India constitutes 40 per cent of global rice exports in 2022, with 56 tonnes of rice. Between January and May 2023, the leading rice exporting countries exported 9.27 million tonnes of rice by India, 3.62 million tonnes by Viet Nam and 3.47 million tonnes by Thailand respectively.
Myanmar aims to achieve 2.5 million tonnes of rice export in the 2023-2024 FY. It sent only 261,079 tonnes of rice and broken rice in Q1 (April-June) this FY.
Consequently, the price of rice which is the staple food of over three billion people is forecast to rise. The global rice inventory might drop to the six-year lowest of 170.2 million tonnes this FY.
Myanmar people have been facing an inflation burden since mid-2022. Rocketing rice price persists in 2023. The retail price of high-grade Pawsan paddy from Myaungmya and Pyapon areas rice hit over K100,000 per bag in addition to popular Pawsan from the Shwebo area. The wholesale price is approximately K90,000-95,000 per bag, which soared from K70,000 per bag in the year-ago period. The price is up by around K20,000 per bag.
The low-grade summer rice was priced at K30,000 only in 2020. This year, it peaked at K60,000 per bag.
If the El Niño phenomenon threatens rice production in Myanmar, consumers have concerns over the possible price hike. — TWA/EM