The risk of a rice price war in Asia

David Beasley, executive director of the World Food Programme, said fertilizer shortages could reduce rice yields in the region.

This is reminiscent of the 2007-2008 spike in prices after India’s drought, pushing rice prices to $1,000 a tonne.

According to him, Asia will be affected by this fertilizer crisis, which is forecast to impact the rice harvest in the next 12 months.

“If you look at the progress made in reducing world hunger, this could actually interfere with global food security,” he said.