Future global warming in Southeast Asia has been of a concern that the global climate has been changing enough to alter weather conditions unfavorably towards rice production. This article explores the impact of these temperature and precipitation changes on the rice yield and its variability in Southeast Asia. Statistical analysis shows that the rice yield is expected to fall and its variability rise under global warming. These changes would be challenging to rice producers, consumers, trading partners and each government, especially with the increase in yield variability which could be a serious market risk.