What politics and drugs have to do with the hike in rice prices
Because of its taste and texture, it is the key ingredient in the old favourite among Singaporeans, chicken rice. Hom Mali – or fragrant Thai jasmine rice – is also preferred by local Chinese restaurants.
It is one of Thailand’s premium exports, and the World Rice Conference has named it the world’s best rice five times since 2009. But that quality, for the most important staple in Asia, has come at an increasingly higher price.
For hawker Wong Teck Tham, the cost of the rice had increased by more than 10 per cent over the past five years, to about S$100 for every 50 kilogrammes.
He was shocked, however, when it then increased to S$108 around the middle of this year. “I’ve never used rice that’s so expensive,” he said.
But the hike has been far steeper for local rice importers: Up by 58 per cent since last year, according to the Singapore General Rice Importers Association.
And with the price of Thai jasmine rice now at its highest in a decade owing to a supply shortage, they will have to remain on the alert for more hikes, as the series For Food’s Sake discovers.