Rationing ?! - Page 4 - Mercedes-Benz Forum

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post #31 of 33 (permalink) Old 04-05-2008, 12:05 AM Thread Starter
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Rice riots.
Hi tech farmers.
=========================
http://www.nytimes.com/2008/03/29/bu...29rice.html?hp
Shortages and high prices for all kinds of food have caused tensions and even violence around the world in recent months. Since January, thousands of troops have been deployed in Pakistan to guard trucks carrying wheat and flour. Protests have erupted in Indonesia over soybean shortages, and China has put price controls on cooking oil, grain, meat, milk and eggs.

Food riots have erupted in recent months in Guinea, Mauritania, Mexico, Morocco, Senegal, Uzbekistan and Yemen. But the moves by rice-exporting nations over the last two days — meant to ensure scarce supplies will meet domestic needs — drove prices on the world market even higher this week.

...
The increase in rice prices internationally promised to put more pressure on prices in the United States, which imports more than 30 percent of the rice Americans consume, according to the United States Rice Producers Association. The price that consumers pay for rice has already increased more than 8 percent over the last year.

But the United States is fortunate in also exporting rice;
...
Vietnam’s government announced here on Friday that it would cut rice exports by nearly a quarter this year. The government hoped that keeping more rice inside the country would hold down prices.

The same day, India effectively banned the export of all but the most expensive grades of rice. Egypt announced on Thursday that it would impose a six-month ban on rice exports, starting April 1, and on Wednesday, Cambodia banned all rice exports except by government agencies.
...
At the same time, prices set in international rice trading now have an increasingly important effect on prices within countries. This has been particularly true in an age of Internet and mobile phone communications when even farmers in remote areas can learn about distant prices and decide whether their own buyers are giving them a fair price.
...
... Thai exporters have already practically stopped signing delivery contracts, Mr. Savage said.

Even before Friday’s export restrictions by Vietnam and India, bids for commonly traded grades of Thai medium-grain rice had doubled this year to $735 a metric ton. ...
Governments have been reluctant to tell farmers to sell their rice at low fixed prices, for fear that farmers would hoard rice or not bother to grow as much as they could. On Friday, China, which is virtually self-sufficient in rice, raised the minimum prices for rice and wheat that it guarantees to farmers.

Last edited by mlfun; 04-05-2008 at 12:07 AM.
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post #32 of 33 (permalink) Old 04-05-2008, 12:11 AM Thread Starter
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Er.. no need to panic.
==========================
The UN warned in February that 36 countries, including China, would face food emergencies this year, as stockpiles of grains such as rice dropped to a 26-year low.
...
Vietnam, one of the world's three biggest rice exporters, will reduce shipments this year to 4million tons to ensure supplies domestically and curb inflation that is at its highest in more than a decade.
Rice record as supplies stockpiled | The Australian
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post #33 of 33 (permalink) Old 04-07-2008, 11:14 PM Thread Starter
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Continuing my monolgue since no one else interested
in food

=================================

April 7 (Bloomberg) -- From Cairo to New Delhi to Shanghai, the run on rice is threatening to disrupt worldwide food supplies as much as the scarcity of confidence on Wall Street earlier this year roiled credit markets.

China, Egypt, Vietnam and India, representing more than a third of global rice exports, curbed sales this year, and Indonesia says it may do the same. Investigators in the Philippines, the world's biggest importer, raided warehouses last month to crack down on hoarding. The World Bank in Washington says 33 nations from Mexico to Yemen may face ``social unrest'' after food and energy costs increased for six straight years.

Rice, the staple food for half the world, rose 2.4 percent to a record $21 per 100 pounds in Chicago today, double the price a year ago and a fivefold increase from 2001. It may reach $22 by November, said Dennis DeLaughter, owner of Progressive Farm Marketing in Edna, Texas.
...
``Just like in the credit markets back in the first quarter of this year where people were not lending money to each other, they're not giving rice to each other,'' David Darst, chief investment strategist at Morgan Stanley Global Wealth Management, said in a Bloomberg Television interview in New York.
...
Rice yields globally expanded more than 40 percent from 1980 to 2000, according to data compiled by the USDA. They've increased only about 5 percent since then, the data show. Stockpiles will fall to 75.2 million tons, about half of where they were at the start of the decade, the USDA said.
Bloomberg.com: Worldwide

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