The recent cyclone in Myanmar, formerly known as Burma, heavily damaged rice fields there and sent rice prices soaring in the country. But rice traders said this had not pushed up world prices because Myanmar’s exports were tiny and the country and aid agencies lacked the money to buy large quantities of rice on world markets.
“I don’t think the Burmese cyclone is having any significant effect,” said Korbsook Iamsuri, the secretary general of the Rice Exporters Association in Thailand.
In other words, "the demand for rice will not go up because the country suddenly lacking food is too poor to buy at today's prices."
Not that the Burmese junta is helping, but the pricing story is an independent factor based on the market optimizing for utility as it does so well.