FAO - Rice Prices Up 70% In Past Year: Poor Nations Struggling With Cost, Shortages - BBC

[hatrack]

Asian countries have been struggling to cope as the cost of rice has reached record levels.

The price of the staple crop has risen by as much as 70% during the last year, according to the UN Food and Agriculture Organisation (FAO).

Shortages have begun to hit some importing countries.

Factors contributing to the price rise include:


Poor harvests resulting from extreme weather

A rise in demand in some rice-importing countries, where populations and incomes are growing

The expectation of further price increases - resulting in hoarding

Low stockpiles and a long term lack of agricultural investment

EDIT

http://news.bbc.co.uk/2/hi/south_asia/7324596.stm

[villager]

1. Posted a version of this over in LBN, where it sank. But I think rice shortages

in Asia tend to signify, in the bigger picture...

[LisaM]

2. I believe it. I bought some rice a few months ago that was over $8

I didn't notice it until I got home and I was shocked. It was some kind of stupid GM rice, too, which I probably should not have bought to begin with, and it was in a very convenient container with a lid, but still.