I knew something funny was going on when Costco placed limits on how much rice their customers could buy. People are
starting to hoard rice and pushing the price higher.
Some countries — like Vietnam, Senegal, and the Philippines — have taken extreme measures to curb speculation.
Vietnam, the second largest exporter of rice in the world, has banned the exportation of rice.
80% of rice is consumed in Asia so this is certainly as issue that could affect Asian economies.
- Rice jumps 61% in 2008 You and I keep talking about the rising cost of filling up our gas tank, but Asians care a heck...
- Strategic rice reserves? We have our strategic petroleum reserves. China has its strategic pork reserves (I’m not kidding) and Japan has strategic rice...
- Will $120 oil crush the Chinese economy? I probably fill up my car every 4-5 days so $120 a barrel oil is certainly affecting my budget. And...
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