Global rice supplies are anticipated to decline this year, driven by Asian farmers reducing planting areas amid fertiliser shortages and escalating fuel costs linked to the Iran war. The looming El Niño weather pattern is also expected to further constrain output of the world's most consumed staple. Rice is fundamental to global food security, and even minor disruptions can cause price surges, placing significant pressure on household budgets, particularly for price-sensitive consumers across Asia and Africa. This immediate concern contrasts with an April forecast from the UN Food and Agriculture Organization , which projected a 2% expansion in rice output to a record high by 2025/26. The repercussions of the Iran war are already affecting farmers in major exporting nations like Thailand and Vietnam, as well as import-dependent countries such as the Philippines and Indonesia, according to growers and traders.…