http://www.independent-bangladesh.com/200802212190/business/worldwide-shortage-of-rice-shoots-prices-soaring.htmlAs the price of rice climbs across South Asia, farmers and millers in Thailand are sitting on stocks and waiting for it to rise even further, said a top rice exporter in Bangkok.
The exporter, who requested anonymity, told The Straits Times: 'In my 25 years of trading, I have never seen such a bad position.' There is a rice shortage in Bangladesh and China too, among other countries, while there is a wheat shortage in Afghanistan.
In local markets in Pakistan, the price of rice has gone up over the past month by more than 60 per cent year on year. India recently contributed to soaring world prices when it imposed a ban on rice exports — relaxed only partially to allow some supplies to Madagascar, Mauritius, the Comoros Islands and cyclone-hit Bangladesh. China has banned rice exports to ensure enough is available for domestic demand.
From Kansas to Kabul, high rice and wheat prices are worrying officials and economists, and beginning to hit consumers — especially tens of millions of poor people — harder than many can remember. In Singapore, while rice importers and supermarkets have no problems getting the staple grain, prices have escalated.
In the past three months, prices have risen sharply by 30 per cent to 40 per cent, said a spokesman for rice importer Tong Seng Produce. FairPrice, which has diversified its rice import — with supplies coming from Australia, Thailand, Vietnam and India — has been able to secure its regular supply.
-snip-
---------------------------------
we have hit the tipping point
its down hill from now on
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
