# Rice Soars to Two-Year High in Asia on El Niño Drought Risks - Bloomberg

> Asian rice prices surged to their highest level in more than two years as importers built up stockpiles over fears that El Niño will dry out plantations and damage crops. Thai white rice 5% broken rose about 15% in four months to $535 a ton, the strongest since early March 2021.

- Date: 2023-07-11 · published 2023-07-11T12:00:00.000Z
- Category: weather · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/5208-rice-soars-to-two-year-high-in-asia-on-el-nino-drought-risks-bloomberg
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Importers stockpiling ahead of expected drought in Southeast Asia tightens near-term export supply and supports higher rice prices. Thailand and Vietnam, major exporters, face the greatest pressure on output.

## Read by commodity

- RICE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2026-05-13 | [El Niño fears push rice importers to build stocks as Thailand watches drought risk](https://feedsoft.ai/events/19304-el-nino-fears-push-rice-importers-to-build-stocks-as-thailand-watches-drought.md) | +7.7% | +2.4% |
| RICE | 2020-03-06 | [Asia Rice-Drought-hit Thailand's rates soar to 6-1/2 yr peak on supply dearth](https://feedsoft.ai/events/7987-asia-rice-drought-hit-thailand-s-rates-soar-to-6-1-2-yr-peak-on-supply-dearth.md) | +0.9% | +9.3% |
| RICE | 2020-03-30 | [Rice prices hit 6-year high as Thailand and Vietnam face drought - Nikkei Asia](https://feedsoft.ai/events/54207-rice-prices-hit-6-year-high-as-thailand-and-vietnam-face-drought-nikkei-asia.md) | +4.2% | +21.5% |
| RICE | 2020-03-12 | [Asia Rice-Thai drought raises supply jitters, Vietnam rates at over 1-yr high](https://feedsoft.ai/events/7548-asia-rice-thai-drought-raises-supply-jitters-vietnam-rates-at-over-1-yr-high.md) | +10.1% | +10.3% |
| RICE | 2023-10-11 | [Asia Rice Market Braces for More Stress From El Niño After Export Curbs - Bloomberg](https://feedsoft.ai/events/33694-asia-rice-market-braces-for-more-stress-from-el-nino-after-export-curbs.md) | -0.1% | +2.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-07-11/rice-soars-to-two-year-high-in-asia-on-el-nino-drought-risks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.