Thread: Rising Rice Prices Outpacing Government Controls

Rising Rice Prices Outpacing Government Controls

Tuesday, April 1, 2008 11:16 a.m. EDT

While prices of wheat, corn and other agricultural commodities have surged since late 2006, the increase in rice prices began only in January.
Still, the climb began well before prices jumped 30 percent to an all-time high after Egypt announced a ban on selling rice abroad in order to keep local prices affordable, and the Philippines announced plans for a major rice purchase in the international market in order to boost supplies.

Rice prices have doubled since January, when the grain traded at about $380 a ton, boosted by strong Asian, Middle Eastern and African demand, with recent quotes of as much as $760 a tonne.

"I have no idea how importing countries will get rice,â€

We need to ban exports of wheat and corn then... also foreign aid. Let some one else deal with it for a change..