There are no indications that the threatened global rice shortage, touted as the likely biggest shortage of its kind in more than two decades is likely to impact on either the availability of rice to local consumers or on existing agreements which the local rice milling company, Nand Persaud and company enjoy with its buyers abroad, Head of the company Mahendra Persaud has told the Stabroek Business.
A week ago, in the Friday May 12 issue of the newspaper, the Stabroek Business reported that an article published in the ……………….had asserted that global rice production for this year was set “to log its largest shortfall in two decades,” attributing the remark to the Analytics Company Fitch Solutions. “At the global level the most evident impact of the global rice deficit has been and still is, decade-high rice prices, a Fitch Solutions Commodities Analyst was quoted as saying, against the backdrop of what he was reported as saying was a strained supply of rice. This, according to the Fitch functionary, was attributable to the ongoing war in Ukraine, as well as weather woes in rice-producing economies like China and Pakistan.