---
title: "Rice plunges the most in 16 years after India eases export curbs"
description: "Rice prices tumbled the most in more than 16 years in Asia as concerns over supply eased after India relaxed some export restrictions."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2024-10-03-rice-plunges-the-most-in-16-years-after-india-eases-export-curbs/"
published: "2024-10-03T05:36:50"
updated: "2024-10-03T05:36:52"
lang: "en-ZA"
word_count: 154
---

# Rice plunges the most in 16 years after India eases export curbs

> Rice prices tumbled the most in more than 16 years in Asia as concerns over supply eased after India relaxed some export restrictions.

By Bloomberg · Published 3 October 2024, 07:36 SAST · Updated 3 October 2024, 07:36 SAST

## Content

Thai white rice 5% broken — an Asian benchmark — plunged about 11% to $509 a ton on Wednesday, according to the Thai Rice Exporters Association. That was the biggest decline in data compiled since May 2008, and extended a prolonged slide in prices to the lowest level in more than 15 months.

Rice rallied last year after top shipper India implemented export restrictions to contain [local prices](https://www.bloomberg.com/news/articles/2023-08-28/the-world-s-top-rice-shipper-now-has-restrictions-on-every-grain) ahead of an election. The Asian nation loosened some curbs following recent national polls, a move that could help ease a domestic glut and cut import costs for countries such as Indonesia and Senegal.

The grain is vital to the diets of billions and contributes as much as 60% of the total calorie [intake](https://www.bloomberg.com/news/articles/2023-08-10/soaring-rice-prices-rekindle-inflation-risk-for-world-s-poorest) for people in parts of Southeast Asia and Africa. While the price of rice has cooled, the costs of other [food staples](https://www.bloomberg.com/news/articles/2024-09-30/wheat-coffee-sugar-other-food-prices-are-rising-due-to-bad-weather) are rising as extreme weather threatens harvests around the world.