Rice is produced worldwide and is the primary staple for more than half the world’s population, according to the USDA Economic Research Service’s Rice Report. So when prices for this food staple and others skyrocket overnight, it’s not surprising to see that riots and unrest are being predicted around the world:
Philippine activists warn about possible riots. Aid agencies across Asia worry how they will feed the hungry. Governments dig deeper every day to fund subsidies. Part of a surge in global food costs, rice prices on world markets have jumped 50 percent in the past two months and at least doubled since 2004. Experts blame rising fuel and fertilizer expenses as well as crops curtailed by disease, pests and climate change. There are concerns prices could rise a further 40 percent in coming months. — International Herald Tribune, March 28, 2008
Rice prices jumped 30 per cent to an all-time high on Thursday, raising fears of fresh outbreaks of social unrest across Asia where the grain is a staple food for more than 2.5bn people. — Financial Times, March 27, 2008
While I’m no expert on food prices, I did find some interesting data about this commodity known as rice. For instance, the chart below shows the six leading rice-exporting countries (Thailand, Vietnam, U.S.A., India, China and Pakistan).
The next chart shows the nine leading rice-importing countries (Indonesia, Brazil, European Union, Bangladesh, Iran, Saudi Arabia, Japan, China and the Russian Federation).
It will be interesting to see how things shake out during the next few weeks and months as the impact of rising food prices continues to be felt worldwide.For some background on the possible causes of these high food prices, check out these posts:
4 responses so far ↓
1 Always On Watch // Mar 28, 2008 at 8:15 am
I wonder if we’re heading into a worldwide depression.
All the economic indicators lead me to believe that even harder times are coming.
BTW, I read the other day that the Southern Hemisphere’s wheat crop has also failed. I don’t have a verification link, however.
2 hotoffthepress2 // Mar 28, 2008 at 8:16 am
AOW — We’ll have to see if we can find any news about the Southern Hemisphere’s wheat crop. I haven’t heard anything to date. Readers?
3 hotoffthepress2 // Mar 28, 2008 at 9:12 am
Below is an excerpt from an e-mail I received moments ago from Skunkfeathers, a frequent commenter on this blog:
“The way I might see this, it’s all a plot by the Chicoms and the Peoples’ Liberation Army. They suck up all the oil they can lay their hands on, in an effort to diminish open market stocks and drive the per-barrel price to ruinous levels…
Meantime, in their highly-secure labs, they work diligently on creating an alternate fuel source, using rice as the primary ingredient, and foment a ‘food and saki crisis’ by buying up and hoarding large stocks of it, with huge purchases from South Korea, Japan, and a large segment of South East Asia, as well as from San Francisco (a Rice-a-Roni crisis is soon to be looming, just you watch)….
They wait until the Middle East oil is nearing depletion, and then with their own home-generated stocks of roil (oil made from rice), they become the world’s major suppliers of alternative energy. At their price, of course. And just before they can conquer the world with their incredible scheme, James Bond and some lethal babe will uncover and thwart them, before having mad sex in some high-tech venue, with some Asian farmer standing by saying, “Oi? Gyaa!”
Of course, this is just one possibility. Another one involves Vaseline, sheep, a turbo laser, space aliens and Dr. Strangelove…. Yeah, I know…the world’s going to hell, and I’m being silly. Gotta be something in this screwy time; how else can we face the possibility that enough ‘Mericans are bamboozled into voting for a President Hildebeest Clinton or President Obama-lama-dingdong, and sending the US Constitution to the scrap heap of history?”
4 » Riots, Unrest Predicted as Price of Rice Soars NoisyRoom.net: Courage is the price that Life exacts for granting peace. Amelia Earhart // Mar 28, 2008 at 2:12 pm
[...] From Bob McCarty Writes: [...]
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