Global rice prices are on the rise, with white rice and parboiled rice nearing $700 per tonne, primarily due to India's recent export restrictions.

According to the Food and Agriculture Organization (FAO), the growth in rice production in Bangladesh and Nigeria, along with crop recovery in Cambodia, Myanmar, Pakistan, Sri Lanka, and the US, will likely make up for crop shortfalls in Brazil, Indonesia, and Thailand, as well as output stagnation in India and China (mainland) in the 2023–24 season, which begins in September.