The global price of rice has hit a record high amid fears that demand will outstrip supplies as major rice producing nations move to curb exports of the staple food.

Export restrictions are in place in major rice producing countries such as India, China, Vietnam and Egypt.

Rough rice for May delivery hit a record of $20.26 per 100lb, according to Bloomberg data.

The World Bank has estimated that around 33 countries face potential social unrest because of rising food and energy prices.