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Farmers in Asia reap rewards of soaring rice prices, while consumers struggle to afford staple crop

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Rice price to rise 30%, benefiting farmers, hurting Indian and Malaysian consumers. Thai farmers capitalize despite storage shortages. As prices for rice go up, farmers like Durian Klombang are happy to see an increase in their income. However, the high prices imposed by the Indian government have led to a halt in business, causing losses for those in the industry and higher prices for consumers in Malaysia. Farmers in Thailand are trying to capitalize on the situation, but storage shortages and hoarding by speculators suggest a potentially negative long-term impact. Despite this, Thai exports are up 10%, and farmers are trying to squeeze in a third harvest before year-end.

Al Jazeera's Tony Cheng reports from Pathum Thani in central Thailand.

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Category
World
Tags
Al Jazeera, Al Jazeera English, Business and Economy
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