rice prices

6 Stories

US Predicts Bumper Crops Will Ease Food Crisis

Record-breaking grain harvests worldwide expected to bring prices back down

(Newser) - Farmers worldwide will reap record-breaking harvests of wheat and rice this year, the US projects, and the news is expected to ease some of the worldwide concern about food prices. The USDA says good weather will bring bumper crops that will replenish depleted stocks, Reuters reports. Analysts warned, however, that... More »

Thailand Plans OPEC-Style 'Rice Cartel'

PM wants to control market with neighbors, including Burma

(Newser) - The prime minister of Thailand is exploring the idea of setting up a rice price-fixing cartel with four other governments in southeast Asia, including the military dictatorship of Burma. The Bangkok Post reports that Samak Sundaravej wants to establish an OPEC-style collective of producers that will influence the market for... More »

Rice Is the New Oil

Rising food prices threaten a more serious global crisis

(Newser) - Even as the burgeoning price of oil slaps consumers at the pump, a darker global market crisis looms as rising commodities prices compound the pressures of poverty worldwide. The UN has said that spiking food prices have started "a silent tsunami threatening to plunge more than 100 million people... More »

Sam's Club Joins Costco in Limiting Rice Purchases

Warehouse chains react to rising prices, apparent hoarding

(Newser) - Sam's Club joined Costco today in limiting how much rice customers can buy, Bloomberg reports. The restrictions by the nation's largest warehouse retail chains come with the price of rice at record highs around the world, which has spurred some to begin hoarding, Bloomberg notes. Sam's Club customers can buy... More »

Costco Sees High Demand for Basics Rice, Flour

CEO attributes run to customer uncertainty over food supplies

(Newser) - Costco is seeing unusually high demand for basics such as rice and flour, Reuters reports, a development the warehouse giant attributes to customer uncertainty over global food shortages. The company, which sells to individual shoppers as well as restaurants, has put limits in place for those items at some stores.... More »

Crisis Looms as Rice Prices Soar

Countries ban exports, chastise hoarders

(Newser) - Rice feeds half the world's population, but this year there isn't enough to go around and prices have risen by 50% over the last two weeks alone. Population growth is outpacing production, and stocks are at a 30-year low after droughts decimated harvests in China and Australia. Countries are banning... More »

6 Stories