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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

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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.

Bangkok

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

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