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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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 industrial use. Now, the first dry-weather pattern since 2010 is threatening crops in the Philippines, Indonesia and India.
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