Jump in rice price fuels fears of
unrest
Continuing our chronicling of the
coming bio-fuel famine. Here now after we proclaimed the coming Muslim incited
civil upheaval, beginning this summer (When
stocks begin to run out.) Here is
the first article that some see what is about to be. The four horsemen are coming.
By Javier Blas in
Published: March 27 2008 18:30 | Last updated: March 27 2008 18:30
Rice prices jumped 30 per cent to an
all-time high on Thursday, raising fears of fresh outbreaks of social unrest
across
The increase came after
While prices of
wheat, corn and other agricultural commodities have surged since late 2006, the
increase in rice prices only started in January.
The Egyptian
export ban formalizes a previously poorly enforced curb and follows similar
restrictions imposed by
These foreign
sales restrictions have removed about a third of the rice traded in the
international market.
“I have no idea how importing countries
will get rice,” said Chookiat Ophaswongse, president
of the Thai Rice Exporters Association. He forecast that prices would rise
further.
The
Rice is also a staple in Africa, particularly for small countries such as
Thai rice, a
global benchmark, was quoted on Thursday at $760 a tonne,
up about 30 per cent from the previous daily quote of about $580 a tonne, according to Reuters data.
Some traders, however, said the daily jump was not as steep, adding that Thai
rice had already traded at about $700 a tonne this
week.
Rice prices have doubled since January, when the grain traded at about $380 a tonne, boosted by strong Asian, Middle Eastern and African
demand.
Additional reporting by Roel Landingin in