Rice: Stirring Up Trouble in International Trade

To most of the world, rice is more than just a food; it's a staple of national history and cultural identity. Across South Asia, Southeast Asia and Africa, the grain is a key ingredient in the everyday diet and a cornerstone of regional economies. But in addition to being one of the world's most popular commodities, rice is among the most vulnerable. Rice exports are currently concentrated among a handful of producers, protective trade measures are rampant in the sector, and the grain's variants cannot be easily substituted for one another -- all factors that make the industry highly susceptible to disruptions in the market. These risks are unlikely to lessen in the near future, as rice seems all but certain to remain a sticking point in upcoming trade negotiations that involve the United States or its Asian competitors....