Our Awful Situation
Rice continues to surge
Don’t you love how wise people who prepare and store are labeled as “hoarders”?
Rice climbed to a record for a fourth day as the Philippines, the biggest importer, announced plans to buy 1 million tons and some of the world’s largest exporters cut sales to ensure they can feed their own people.
Rice, the staple food for half the world, rose as much as 2.9 percent to $21.60 per 100 pounds in Chicago, before paring gains. The price has doubled in the past year. Philippine President Gloria Arroyo announced two rice tenders today and pledged to crack down on hoarding. Anyone found guilty of “stealing rice from the people” will be jailed, she said.
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