How long does uncooked rice (like the one milled and just packaged in bags) actually last?

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I’m from an Asian country that loves rice, but now that I think about, I’m not actually quite clear what gives rice its longevity. Common wisdom here is as long as it doesn’t get insects, get mold, or otherwise change from being dry it should be fine to cook and eat. Otherwise, it can simply sit in a bag or a storage container without apparently spoiling.

How does it do this? I’m aware that it doesn’t last forever, but it sure stays edible (as long as its uncooked) for longer than I expected.

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