Price of rice is highest it has been in more than a decade

Published: Jul. 27, 2023 at 5:47 PM EDT
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WATERTOWN, New York (WWNY) - The price of rice is on the rise. The highest it has been in more than a decade.

Fried rice is a staple at the Lotus Restaurant in Watertown. John Nguyen said lately, the cost of rice has gone up.

“I’ve seen that from the time I got the restaurant. The price always goes up little by little,” he said.

Rice is part of the many dishes on the menu at the Vietnamese restaurant. Nguyen buys about 200 pounds of rice a week, typically in 50-pound bags.

“Before they charged like, 40-something, but now they go over 50-something. A lot more, not only a couple of dollars,” Nguyen said.

If the trend continues, Nguyen said he’ll be paying four figures for rice this year.

“Over a thousand,” he said.

According to reports, a rice export ban set in India earlier this month could be why the price has increased in the United States. India accounts for more than 40% of word rice exports.

Nguyen said not only has the price of rice gone up, but so has the price of rice noodles. He said paying the extra bucks is worth it though, if it means keeping customers satisfied.

“We don’t want to change the taste,” he said.