At a time when global food prices are rising and inflationary concerns have been raised, rice, an important staple food in Asia, has fallen this year.

Zhitong finance app learned that in 2008, wheat and rice prices hit new highs, causing food riots in some countries, while this year the situation is the opposite. The Chicago wheat futures price, as the global price benchmark, has increased by about 30% since the end of December last year, reaching the highest level in nearly a decade, while the Thai rice export price, as the regional price benchmark, fell by 25% to a four-year low.

The severe drought in parts of Canada and the United States, coupled with the drought in the Black Sea region, has led to increased global demand and reduced wheat supply. At the same time, increased rainfall in Thailand, one of the world's largest rice exporters, has increased rice production. Chookiat ophaswongse, honorary chairman of the Thai rice exporters association, said that Thailand's rice production is expected to increase by more than 20% this year due to the end of the long-term drought caused by rainfall.