Overall, the cost of food has been rising worldwide, including rice which has nearly doubled in price over the past few months. With rice being the staple food of many cultures, one can only wonder how much will these rising prices strain developing nations so dependent on this staple food?

At the moment, Thai rice currently sells for about $760 per metric ton while some commodities experts predict rice will soon hit $1,000 a ton. Recent environmental events have damaged the crops of some of the largest rice producing regions. Events like droughts in Australia, floods in Bangladesh and plant viruses in Vietnam have forced rice producers like India, Cambodia and Vietnam have put restrictions on exports.

Although commodities investors may experience gains over this shortage, it surely is a definite these restrictions will have an immediate negative impact on all rice consumers.

The U.S. Department of Agriculture forecasts that this year global rice stockpiles will fall to their lowest levels in 25 years. That could spell big profits for growers in Thailand, the world's largest exporter of rice.