Kamolsak Thongta was working at a garage in northern Thailand when rice prices began to soar. So he quit his job, found a plot of unused land and became a farmer.
"With the price like this, I don't think this is a risky business," said Kamolsak, 46. "Rice gives good return."

That rush to profit from the global rice shortage may cause long-term pain for Thailand and world markets.

Farmers trying to cash in now are depleting water supplies set aside for the dry season, which may curtail yields by as much as 75 percent later this year, said Prasert Gosalvitra, head of the government's rice department. ... Read full article