Analysis: Strong Asian rice demand for animal feed sparks food supply worries

Published by
Reuters

By Naveen Thukral SINGAPORE (Reuters) – A surge in wheat and corn prices is boosting demand for low-grade rice in animal rations across Asia, pushing up prices of the world’s most important staple at a time when global food inflation is already hovering near record highs. Global crop importers are scrambling for supplies after Russia’s invasion of Ukraine severed grain shipments from the two countries, which together account for around 25% of world wheat and 16% of world corn exports. Chicago wheat futures hit a record high last week while corn climbed to its highest in a decade after war-torn…

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