Climate Change

With global temperatures already 1.2 degrees Celsius above pre-industrial levels, climate change is having major impacts on agriculture that fall disproportionately on the Global South—from crops, to livestock, to aquaculture. Agricultural systems endure frequent heat waves, flooding, and drought—often all in one season. Climate-related extreme weather events such as intense rainstorms pose a serious threat to crops.

The FAO Food Price Index rose marginally in April but remained 7.4 percent below its April 2023 level. The slight increase was driven by rising meat, vegetable oil, and cereal prices.

Asia faces unprecedented food security challenges due to soaring rice prices, climate-induced disasters, and ecosystem degradation. Strategic action is needed to transform food systems for greater resilience and sustainability.

Food security remains a serious challenge in Asia and the Pacific. This region has the highest number of people facing acute food insecurity worldwide. 

Asia is home to 55% of the people in the world affected by hunger—more than 400 million—and faces continuing threats to food security. The crises of recent years—including the COVID-19 pandemic, the Russia-Ukraine war, and climate-related shocks—have disrupted Asia’s food supply chains as they have around the world. Currently, rising temperatures, unpredictable weather patterns, and floods pose threats to the production of rice and wheat, key staple crops in the region.

On July 20, India banned exports of non-basmati price (covered in our blog post of July 25)—aiming to cool rising domestic prices—a move many feared would drive rising global prices higher. Since then, that trend has continued: The benchmark Thai rice price has risen 14%, Viet Nam rice prices are up 22%, and India white rice prices are up 12% (Figure 1). In August, in an effort to prevent exporters from undermining the ban, India put a surcharge of 20% on exports of parboiled rice and instituted a minimum sales price for basmati rice.

Figure 1