Rice Prices Jump 30 Per Cent To All-Time High

Financial Times:

Rice prices jumped 30 per cent to an all-time high on Thursday, raising fears of fresh outbreaks of social unrest across Asia where the grain is a staple food for more than 2.5bn people.

The increase came after Egypt, a leading exporter, imposed a formal ban on selling rice abroad to keep local prices down, and the Philippines announced plans for a major purchase of the grain in the international market to boost supplies. Global rice stocks are at their lowest since 1976.

Read the whole story: Financial Times

Comments

[dadw5boys]

The rice harvest is off an average of 14 % just because of polluation.

Folks want to really save money. UNPLUG ELECTRIC DEVICES.
In the 1980's they started putting INSTANT TECHNOLOGY into everything electric. This technology uses SMALL AMOUNTS OF ELECTRIC POWER CONSTANTLY, even when the item is turned off. A balast has to remain charged so the instant on works. Unplug and save about 6 volts of power per device per day.
In a big home with lots of electric devices that can add up fast as well as the savings.

It takes about 6,000 barrles of oil a year to keep those digitial clocks flashing 12:00 12:00 and even more to keep all the portable phones charged.

[forpeace]

*

.......... and it all began when US Government starts Outsourcing American Jobs and Exporting American Style Freedom.

Who's benefiting from all these?

*

[TimmySlagle]

What have we here? Another story about grain price inflation.

Why is grain getting so expensive? Because here in America, we're burning corn in our cars.

So it looks like combatting Global Warming, means that more people will go hungry. Remember this, the next time some hippie tries to convince you that Green Technology ids GOOD for the economy.

[MetalCanuck]

It is good but NOT ethanol.

[TimmySlagle]

Yeah, but ethanol WAS supposed to be good.

Before we actually tried it, environmentalists were clamoring for ethanol. Not that it's been a proven failure, they're all denying that they ever supported it. Much like the infamous Communist ten year plans, previous failure is never reason enough not to soldier on.

How many more technologies do we need to see fail in the marketplace, and how much more damage doe the economy need to endure, before we realize the environmentalists are just making it up as they go along?

The truth is, environmentalists could care less about the economy, and are lying when they tell us that green is good economics.

[JohnBarleycorn]

Like wheat prices in

[VictorLudorum]

Javier Blas and Daniel Ten Kate ,then you will debate iranian women too?

[gcallaghan]

Hell, everybody knows that spikes in prices are due to increasing consumer demand from China and the Indian subcontinent.


What? They alwaysconsumed rice? Are you sure? Then, nevermind.

[Paul]

Just in time for the Chinese Olympics

[FogBelter]

HuffPost's Pick

I have friends in the Philippines who are rice farmers, so I have observed what seems to be the problem, at least in their area, with rice cultivation. Due to corruption of provincial governments undermining public works projects, and the massive deforestation of the Philippine Forests (95% loss since the end of WWII) there is a extreme lack of watershed for natural irrigation of rice fields. What this does is cause farmers, who are farming on an extremely slim profit margin to start with, to have to use deep water wells with pumps for irrigation. The pumps require diesel fuel, which is at extremely high prices world wide. The farmers are also use hybrid rice from Dow's INRI (International Rice Institute) which is expensive and requires expensive chemical fertilizers. When added together the cost of raising the rice isn't worth the cultivation, so instead of having a dry season as well as a wet season harvest, they skip the dry season harvest. But, recently because of the Global Warming issue, the wet season has been starting later, impacting the rice cultivation as well.

[WIpatriot]

Are you up on the GMO seeds, Fog?

[TakeSake]

The last 50 lb.bag I bought was $32. If this increase applies, it will be $39. It lasts over a month. One trip to a restaurant can easily top that. Rice is the best deal out there. With a good automatic rice cooker, it's an unbeatable combination.

[thegreatgiginthesky]

You use a rice cooker? A pot of boiling water works just fine.

[Pippilangstrumpf]

Rice cooker is best. It NEVER over or under cooks and you can start the rice HOURS before you need it, it stays warm and perfect. You push a button and can forget about it.
A pot of boiling water with rice needs to be tended to and it's just one more thing to have to do when you're busy and cooking dinner.
Rice cookers are awesome. I bought one last year that also cooks brown rice and congee (rice soup). The best machine one can have in the kitchen.

[TakeSake]

The trouble is, being wheat intolerant, bread and cereal are out of the question. Therefore, rice is part of breakfast, lunch, and dinner. We make a fresh batch every day. It is set to have the cooking done for either dinner or breakfast - so it's done right at the time it's needed. It then keeps it warm for a day after it's cooked. This is the insulated one with a timer, not the cheap little one.

[ZingoBonMot]

How does that old saying go? Oh,yeah, "physician heal thyself".
Americans had better start thinking about feeding THEMSELVES (buying meat and veggies from local producers, whenever possible). The shit is getting ready to hit the fan, my friends.

[JohnFromCensornati]

Do they grow Big Macs locally?

[abbiehoffmansghost]

Time to load the gun, they're taking my staple away.

[ME08]

Shows you the perniciousness of embargoes...will be the undoing of Egypt and Philippines.