Food Prices Feared to Rise as Southeast Asia Suffers from Massive Floods

Experts have warned of a possible food price hike in Southeast Asia due to the massive floods affecting Thailand, Vietnam, Laos and Cambodia, which are the region’s top rice producers.

“The whole region will now suffer from rising food prices as potential harvests have now been devastated,” U.N. head of disaster reduction Margareta Wahlstrom said, according to the Agence France-Presse. “The damage is very serious this year and it will be some time before people can resume normal lives.”

At least 1.5 million hectares of paddy fields have sustained damage or at are risk from what experts described as the worst flood to affect the countries in years, AFP says.

There are also growing concerns about the flood’s impact on global food prices, particularly since the floods coincide with the Thai government’s move to increase the minimum price received by farmers for their crops.

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About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.