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Pests, El Nino seen removing global rice glut

Just when food costs are the lowest in over 5 years, rice may surge over 40% if monsoon-season rains falter

El Nino may crimp the monsoon season in India that starts this month, potentially hurting food output. Smaller crops in the country will send shipments tumbling 17 per cent to a five-year low, according to US Department of Agriculture estimates.


A RICE glut that sent prices slumping more than a year ago is shrinking, just as El Nino arrives to parch paddies across Asia.

Global inventories were already heading for an eight-year low, including stockpiles so spoiled that top exporter Thailand may sell most for