Prices for the most important food product, rice, fell to a 16-year low

Rice prices in the Asian region fell to a 16-year low amid the Indian government's decision to ease export restrictions, Bloomberg reports.

Thus, prices for Thai white rice of 5% cleaning on Wednesday fell by 11% to $509/t, which was the biggest daily drop since May 2008.

Billions of people around the world consume rice as a staple food, and in some regions of Africa and Southeast Asia, it is the main source of human calories.

At the same time, the agency emphasizes that prices for other food products continue to rise against the background of climate change and worsening weather conditions, which negatively affect harvest volumes.