Rice farmers rejoicing but consumers frowning in Thailand amid global price spikes and shortages

India 's rice export ban presents an opportunity for Southeast Asian rice powerhouses Thailand and Vietnam to reap big profits amid the global rice shortage.

Prices of Thai and Vietnamese white rice have surged by more than 20 per cent following the restriction.

But market experts say consumers in the region will bear the brunt of price hikes and risk facing a prolonged period of unpredictability.

Suppliers in Thailand are holding on to stocks as they wait for more clarity from India .

India has agreed to allocate export quotas for non-basmati white rice to Singapore , Bhutan and Mauritius .

Food security in Southeast Asia is vulnerable to climate change.

Irregular weather patterns are threatening rice yield in India .

The onset of the atmospheric phenomenon known as El Nino is also expected to bring elevated temperatures and the likelihood of extreme weather.

Various research centres around Thailand have been developing rice varieties that can better withstand irregular weather patterns and produce higher yield.

National Center for Genetic Engineering and Biotechnology (BIOTEC) is at the forefront of climate-related rice research in the country.