The price of groats is likely to rise globally due to poor weather conditions and also due to incentives for producers from India. Currently, the price of groats is the highest in the last 11 years, but as analysts from the Reuters platform report, it will continue to grow.
Experts also note that now India supplies more than 40% of the total amount of rice (about 56 million tons last year), the country has increased payments to local farmers and producers, due to which the price began to rise.
The country was the cheapest supplier of rice in the world, due to the increased cost in the local markets due to the increase in the minimum price, all other producers also decided to raise the price.
It is known that this cereal is the main food product for more than 3 billion people and almost all of it is grown and processed in the Asian region, where recently there are big problems with the amount of precipitation, which also has a very bad effect on the yield, so in India, in the last year, the number of sown plantations decreased by 25%.
Due to all these factors, the price may increase by approximately 20-25%.
Source: agronews.ua
