Lately rice supply has become a very big concern around the world. Here in the U.S. we do not feel the pinch nearly as much as those in countries whose main (and sometimes only) food is rice. What will be interesting to see is how a world economy deals with this problem, because many countries are feeling the pinch. Many countries have limited rice exports and the U.S. is seeing increased demand for rice exports. Given that Thailand is the world's largest exporter of rice, I found this announcement interesting:
Thailand to sell entire rice stockpile at lower price to relieve shortages
BANGKOK (Thomson Financial) - Thailand's premier said Tuesday the country would sell all of its 2.1 million tonnes of stockpiled rice at a cut price to relieve shortages and try to curb soaring domestic prices of the staple grain.
Prime Minister Samak Sundaravej said his cabinet on Tuesday approved the plan to gradually sell off the rice stockpile in five-kilogramme (11-pound) bags for 170 baht (about $5) each.
A bag of Jasmine rice currently costs more than 200 baht.
...
Thailand is the world's top exporter of rice, and international demand for its staple grain has soared after other top exporters Vietnam and India imposed limits on shipping rice overseas to ensure domestic supply.
Rice and corn prices have especially been rising over the past couple years, due to increased demand in various forms. This chart shows the price of rice since the start of this decade.
Tags:
corn, ethanol, exports, rice, stockpile, thailand
Posted at: 07:33 AM | Add Comment
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