El Niño to adversely affect global rice supplies
June 15, 2023 - Global stockpiles of rice, which are at close to record levels, are set to fall 5% as the El Niño weather pattern brings hotter and drier weather to Asia.
The arrival of the El Niño weather pattern this year is set to test reserves of rice, despite them being at almost record highs.
The change in climate will bring hotter and drier conditions to Asia, which produces and consumes 90% of global rice supplies.
This year’s harvest is expected to be lower than normal, eating into global stockpiles by around 5% – falling from 182 million tonnes in 2022 to 173 million tonnes in 2023.
As nations become wary of El Niño, Vietnam, the world’s third-largest exporter of rice, has seen shipments to the Philippines go up by 40%, China by 70% and Indonesia by 2,500%.