The rice consumption in Asia is declining rapidly as a consequences of the region’s economic growth, rising disposable income and associated lifestyle changes, says Asian Development Bank (ADB) However, rice is still Asia’s most important crop, as it continues to be the single largest source of calories for the majority of consumers who are poor but the consumers of Asian regions are spending less than 5 per cent of their food budgets on rice. According to the Asian Development Bank, global rice consumption is expected to rise from 441 million metric tons in 2010 to about 450 million metric tons in 2020, before declining to just 360 million metric tons in 2050. “Only population growth continues to drive rice consumption upward in Asia, and population growth is slowing in most of the region’s countries,” it said, adding, around 90 per cent of the world’s rice is produced and consumed in the Association of Southeast Asian Nations (ASEAN) countries. The Bank said a 10 per cent rise in food prices, including rice, could push almost 30 million more Indians and nearly 4 million more Bangladeshis into extreme poverty. The two main challenges to rice supply are the extreme price volatility due to policy shocks and the threats to production caused by climate change and low productivity. The global rice export market is relatively concentrated, with Thailand, Viet Nam, India, US, and Pakistan providing nearly four-fifths of available supplies.
