Rice Traders Panic

[MikeC]

Rice traders hit by panic as prices surge
By Javier Blas in London and Raphael Minder in Hong Kong

Published: April 17 2008 18:58 | Last updated: April 17 2008 18:58

Rice prices hit the $1,000-a-tonne level for the first time on Thursday as panicking importers scrambled to secure supplies, exacerbating the tightness already provoked by export restrictions in Vietnam, India, Egypt, China and Cambodia.

The jump came as the Philippines, the largest rice importer, failed for the fourth time to secure as much rice as it wanted.

EDITOR'S CHOICE
Beijing imposes tariffs on fertiliser - Apr-17Rice prices likely to fall, minister predicts - Apr-17Indonesia raises price of subsidised rice - Apr-16Biggest grain exporters halt foreign sales - Apr-16In depth: Rising cost of food - Nov-28Indonesia bans most private exports of rice - Apr-15

 

[mnmtranching]

Good thing the Boss Lady picked up a big bag last week[2 pounder] ought to last us until new crop. :nod:

 

[3fifty7]

As China, India and others industrialize more the people will have a larger income and will consume more. This coupled with the fact that world wide rice acreage will be down due to high fuel, ferterlizer costs and acreage given up to other crops should continue to drive rice prices up. For the first time in the history of our farm has been given the option to book in advance next years crop prices(Which I they are doing for their benefit not ours).