Why is rice an important commodity?

Rice is an important commodity for several reasons. It is a staple food for over half of the world’s population, and is a major source of nutrition and caloric intake for people in many developing countries. Rice is also an important crop for small-scale farmers and rural communities, as it is relatively easy to grow and requires less water and land than many other staple crops. Additionally, rice is used in a wide range of cultural and traditional dishes, and its cultivation has social, economic, and environmental importance.

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