Climate change will influence yields while sea level rise can inundate
producing lands. The research reported investigates the individual and simultaneous effects of these factors on production, trade and consumption of rice the world’s number one food crop. A global rice trade model is utilized to do this. The results indicate that the combination of yield and sea level effects causes a significant reduction in production and an increase in rice prices which may have important policy implications for food security. Global rice production is reduced by 1.60% to 2.73% while global rice price increases by 7.14% to 12.77%. Sea level rise is particularly a risk factor in Bangladesh, Japan, Taiwan, Egypt, Myanmar and Vietnam. In the face of such developments, adaptation may well be desirable and thus an investigation is done over adaptation options of increased technical progress or trade liberalization with the results showing that both can mitigate such damages.