Rice prices drop brings relief to billions worldwide, risk for farmers

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Rice prices drop brings relief to billions worldwide, risk for farmers - Business Standard

Quick Summary:

Retail prices in various countries are determined by factors like the level of reserves in importing nations, the strength of the local currency, transport expenses and the cost of credit to finance overseas purchases, the FAO’s Mustafa said.

Favourable weather over the past year has helped lift global stockpiles for a second season, and a further flood of the crop is expected from top shipper India, which has scrapped long-running export restrictions.

Thai growers last month protested the low prices and called for the government to boost support after a $56 million subsidy plan failed to meet their demands.