TOKYO — India’s determination final month to ban exports of rice despatched shock waves by the Asian marketplace for the staple meals, inflating August costs by practically 10% to a 15-year high, in accordance with the U.N. Food and Agriculture Organization’s All Rice Price Index.

Asia produces and consumes 90% of the worldwide provide of the grain, and the area’s governments have braced for inflation and provide considerations in a commerce already hit by excessive climate and fertilizer shortages. The Philippines imposed a cap on rice costs firstly of September and shortly after mentioned it would review rice import tariffs as rising prices for the carbohydrate disproportionately have an effect on poor households.