Rice Market About To Boil Over?
The Indian's and the Philippines might be about to get embroiled in a bidding war over rice, this report on Barron's suggests: Turning Up the Heat on Rice.
The Philippines are already the world's largest importer of rice, but might soon have India, normally a leading exporter, vying with them for that top slot.
Just imagine where the price of rice would be already, if we weren't at the end of an eighteen month long recession with everybody licking their wounds.
"To a certain degree, India can substitute wheat, which is plentiful and unlikely to spike higher anytime soon," the article says.
I wouldn't like to bet on that. The only place in India where wheat is plentiful is in the government-owned stores (at least they are telling us it's in there), and they don't seem to be in a rush to release it.
Asian Rice Production Sharply Lower
Here's an interesting story, reporting on the demise of rice production in India and the Philippines where adverse weather conditions have hit this years crops hard.
"We are not very far off from possibly another rerun of 2008"
UK food rationing is back
The first apparent case of rice rationing has hit the UK this week after supermarket chain Netto imposed a “restriction” on the amount of rice customers can buy after its suppliers said they were experiencing shortages.
The Danish-owned low-cost chain said its customers were now only allowed to buy one 10kg bag of basmati rice per person in each of its 184 stores across the UK. A Netto spokesman said: “The 10-kilogram bags are a very good price and people are perhaps selling them on. Rationing is a strong term - we prefer to use the term restricting. Our suppliers are experiencing some difficulty at the moment."
I reckon this a cunning ploy by Gordon Frown to get us all to pull together in a bit of wartime type camaraderie to deflect away from his leadership inadequacies.
Shall I do the Tears on my Pilau joke again? Brothers in Naans? Dansak on the Ceiling? Poppadum Preach? Bhuna Round The World But I Can't Find My Bhaji? She Drives Me Jalfreizi?
Israelis Rush To Buy Rice Over Shortage Fear As Prices Rise
JERUSALEM (AP)--Israelis are rushing to buy rice as prices spiral, as increased demand for rice has caused rice prices to soar worldwide.
This past week, Israeli consumers were hit hard, with supermarkets increasing rice prices about 60%. They've also raised the cost of other basics: flour is up 25% and pasta prices have risen 12%.
One supermarket chain limited the purchase of rice to two bags a customer to prevent hoarding. Despite the price increases, authorities Monday weren't reporting a rice shortage.
Rice goes off the boil
Rice prices in Chicago tumbled after touching a record above $25 per 100 pounds yesterday, as Thailand and Brazil said they will not curb exports and Pakistan plans to ship overseas, easing concern over tight global supplies.
Rice closed down its 50c limit in CBOT last night and is currently a further 71c lower in the overnight market, having earlier touched its expanded 75c limit down.
