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 Grain prices soar globally


[b]Grain prices soar globally[/b]

BANGKOK, THAILAND - - Rice farmers here are staying awake in shifts at night to guard their fields from thieves. In Peru, shortages of wheat flour are prompting the military to make bread with potato flour, a native crop. In Egypt, Cameroon, and Burkina Faso food riots have broken out in the past week.

Around the world, governments and aid groups are grappling with the escalating cost of basic grains. In December, 37 countries faced a food crisis, reports the UN Food and Agricultural Organization (FAO), and 20 nations had imposed some form of food-price controls.

In Asia, where rice is on every plate, prices are shooting up almost daily. Premium Thai fragrant rice now costs $900 per ton, a nearly 30 percent rise from a month ago.

Exporters say the price could eclipse $1,000 per ton by June. Similarly, prices of white rice have climbed about 50 percent since January to $600 per ton and are projected to jump another 40 percent to $800 per ton in April.

read more: http://www.csmonitor.com/2008/0327/p01s02-woap.html


_________________
SI Moderator - Greg Gordon

 2008/3/28 15:51Profile









 Re: Grain prices soar globally

We often bring in pizza's at work. I was told by the owner we order from that his prices for flour had gone from $22.00 a 50 lb bag?? to over $64.00 almost overnight.

Katy

 2008/3/28 17:42
rookie
Member



Joined: 2003/6/3
Posts: 4803


 Re: Grain prices soar globally

Rice Run Prompts Curbs to Rival Credit Market Seizure (Update1)
By Marianne Stigset and Tony Dreibus



April 7 (Bloomberg) -- From Cairo to New Delhi to Shanghai, the run on rice is threatening to disrupt worldwide food supplies as much as the scarcity of confidence on Wall Street earlier this year roiled credit markets.

China, Egypt, Vietnam and India, representing more than a third of global rice exports, curbed sales this year, and Indonesia says it may do the same. Investigators in the Philippines, the world's biggest importer, raided warehouses last month to crack down on hoarding. The World Bank in Washington says 33 nations from Mexico to Yemen may face ``social unrest'' after food and energy costs increased for six straight years.

Rice, the staple food for half the world, rose 2 percent to a record $20.910 per 100 pounds in Chicago today, double the price a year ago and a fivefold increase from 2001. It may reach $22 by November, said Dennis DeLaughter, owner of Progressive Farm Marketing in Edna, Texas.

``Rice will gain substantially over the next two years,'' said Roland Jansen, chief executive officer of Pfaffikon, Switzerland-based Mother Earth Investments AG, which holds 4 percent of its $100 million funds in the grain. Governments will likely maintain curbs on exports ``because those countries want to be able to continue to feed their own populations,'' he said.

The upheaval parallels turmoil in global capital markets that seized up nine months ago when subprime mortgages collapsed. The difference between what it costs the U.S. government to borrow and the rate banks charge each other for three month loans ended last week at 1.36 percentage points. A year ago the gap was 0.33 percentage point.

Export Curbs

Rice growing nations are driving up prices for producers that want to sell abroad. The Vietnam Food Association said April 2 it asked members to stop signing export contracts through June, following China, which imposed a 5 percent tax on exports as of Jan. 1. Egypt banned rice shipments through October.

Prices ``are not coming back to the levels we came from,'' said Mamadou Ciss, head of Singapore-based rice broker Hermes Investments Pte Ltd. Vietnam's 5 percent broken-grain rice may be 40 percent higher within three months, he said.

Record grain prices are stoking inflation. Wholesale costs in India rose 7 percent in the week ended March 22, the fastest pace in more than three years, underscoring the threat from rising food costs, the Ministry of Commerce and Industry in New Delhi said April 4.

The increase may boost profits for suppliers. Padiberas Nasional Bhd. rose the most in seven years in Kuala Lumpur stock exchange trading last week. The company is Malaysia's only licensed rice supplier.

Commodity Rally

Goldman Sachs Group Inc. forecasts that all agricultural commodities it covers will rise during the next six months, except for sugar. Global cereal demand will expand 2.6 percent this year, 1.6 percentage points above the 10-year average, according to the Food and Agriculture Organization in Rome.

The UBS Bloomberg Constant Maturity Commodity Index of 26 raw materials gained for six consecutive years and advanced 15 percent this year.

``We have some very serious problems developing globally for food and energy,'' said Greg Smith, executive director of Global Commodities Ltd. in Adelaide, Australia, which manages $350 million.

World rice stockpiles are at their lowest levels since the 1980s, and the United Nations forecasts that exports will drop 3.5 percent this year.

Demand will increase 0.6 percent this year to 422.5 million tons, while production will rise about 1 percent to 422.9 million tons, the U.S. Department of Agriculture said March 11.

Grains Revolution

Rice yields globally expanded more than 40 percent from 1980 to 2000, according to data compiled by the USDA. They've increased only about 5 percent since then, the data show. Stockpiles will fall to 75.2 million tons, about half of where they were at the start of the decade, the USDA said.

``There's been no new technology revolution for the rice seed since the grains revolution in the 1970s,'' said Mehdi Chaouky, a London-based agricultural analyst with Diapason Commodities Management SA, which oversees $8 billion.

Some analysts say buyers in Thailand and Vietnam are hoarding grain and may release it in coming weeks, causing prices to drop. Another risk for speculators is that the increase will lead farmers to grow more crops. Wheat rose to a record $13.495 a bushel in February before dropping as much as 34 percent in the next five weeks, partly on expectations for more planting.

Curbing Exports

``There are lessons to be learned from what happened in the wheat market,'' said Darren Cooper, a senior economist with the International Grains Council in London. ``The market will adjust, and moving forward we will see some restrictions on demand.''

For now, governments are limiting exports to ensure they have enough food at home. Vietnam, the third-biggest rice exporter after Thailand and India, will reduce shipments 11 percent this year to 4 million tons, Prime Minister Nguyen Tan Dung said March 30.

``Bread is losing its place as the main staple food and rice is replacing it, and this created the problem,'' Ali Sharaf Eldin, chairman of Egypt's Chamber of Grains, said in an April 1 interview.

Investigators in Manila caught profiteers last month who were repackaging 20,000 fifty-kilogram bags of rice from subsidized government supplies for sale as higher-grade grain, according to Ric Diaz, an official at the National Bureau of Investigation.

`Social Tension'

The Philippines' state-run National Food Authority allows suppliers to sell at a subsidized price of 18.50 pesos (44.23 cents) per kilogram in low-income areas. People in the warehouse north of Manila were preparing to market the rice as a variety that sells for at least 35 pesos, Diaz said in a March 31 interview.

Drought is hurting plantings in China, where an estimated 19.4 million hectares (48 million acres) of arable land had been affected by March 26, according to Xinhua, the state news agency. Consumer prices in China, the world's fastest-growing economy, soared 8.7 percent in February, the most in 11 years.

``A constant price rise of rice can't be viewed as sustainable,'' said Abah Ofon, a commodities analyst with Standard Chartered Plc in Dubai. ``As with any staple commodity, there's a risk of social tension when prices begin to rise.''


_________________
Jeff Marshalek

 2008/4/7 6:10Profile









 Re:

I know that here PUFF Rice Cereal is hard to get now. Rice Krispies used to be sold in family size now has been taken off the shelf and it's only down to regular size. Same with Corn Flakes.

The price of wheat flour has doubled at our grocery store. Just 6 months ago it was around $5.99 for the store brand, now it's $10.

The price of meat on the other hand has been very good. Pork meats are the cheapest, second to that is Chicken.

I have not seen a major increase of bread sales though. Our bread at the bakery went up to 99cents a loaf as compared to 79cents about 6 months ago. I buy European Grain bread which is priced at $2.49, but I have been paying that price since I started buying it about a year ago.

Rice is not our staple here to lose it is not a great loss, Wheat and Potatoes are.

There is money to be made by the one's that are driving up the price. And if the price goes up, the poor farmer can't afford to harvest his crop and sell it. A bigger company rolls in and buys his fields.

Does anyone want to play Monopoly?

 2008/4/7 10:54









 Re:

Meat may be cheap, but Christians should not eat it. God gave us "every seed bearing plant" for food in Genesis 1:29.

In Genesis 9 Noah changed things, allowing humans to eat meat, but consider the cost to us. we are become completely estranged from nature. and it is stated as a curse upon us.

2 And the fear of you and the terror of you shall be on every beast of the earth and on every bird of the sky; with everything that creeps on the ground, and all the fish of the sea, into your hand they are given.

3 Every moving thing that is alive shall be food for you; I give all to you, as I gave the green plant.

In essense God is saying, OK, green plants aren't good enough for you???? OK eat everything, see what you get.

what we got were weapons to hunt, which became weapons that kill other humans.

what we got was a natural world completely estranged from us (Tom this is YOUR world, baby.)

THE BIBLE Tells us that we disobeyed our original command to not kill and eat animals, otherwise we would not have put domesticated animals on the ark. they were being eaten before Gen, 9:2 against the clear command of God.

eating animals was the root behaviour of our sinful nature.

bub

 2008/4/7 12:10
MrBillPro
Member



Joined: 2005/2/24
Posts: 3317
Texas

 Re:

Quote:

bubbaguy wrote:
Meat may be cheap, but Christians should not eat it. God gave us "every seed bearing plant" for food in Genesis 1:29.
bub



There is no Biblical command that deals with abstaining from meat, merely because of the fall with Adam, however, eating vegetarian is not a bad thing either. Its personal preference and levels of consciousness.

The slaughtering or sacrifice of an animal does not fall into the commandment of "you shall not kill." For the purpose of survival, we need to kill plants and animals to eat. The Bible tells us how to kill the animal the right way in order to eat it.

Plants have souls and spirits too IMO, which refutes the vegan's argument that killing animals for consumption is wrong.

We should be elevating and making holy everything we do, this is why the Bible gives us the instructions on how to do that. Every aspect of our lives are covered in terms of instructing us how. Eating is such an important part of our daily lives that it is no wonder why there is a whole science behind the Biblical dietary instructions.

We should be mindful of how and what we eat, especially since God reveals to us the reasons why in the Bible.

The New Testament does not say that it is okay to eat any and all animals. The New Testament does say that all the laws of the Old Testament are still in effect. Which means, not any and all meat is okay to eat. The believer should be keeping the dietary laws for their health and for their spirit. :-)


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Bill

 2008/4/7 12:48Profile
rookie
Member



Joined: 2003/6/3
Posts: 4803


 Re:

China Cuts Fertilizer Sales; Philippine Tender Flops (Update1)
By Luzi Ann Javier and William Bi

April 17 (Bloomberg) -- China, the world's largest grain producer, raised taxes on fertilizer exports and the Philippines, the biggest rice importer, failed to fill a tender as record prices heightened concern the world is running short of food.

China will increase export duties on all fertilizers and some related raw materials to safeguard local supplies during the main growing season, the Ministry of Finance said today. The Philippines received offers for just two-thirds of the 500,000 metric tons of rice that it sought to buy at a tender.

Rice futures in Chicago surged to a record today, following gains in wheat, corn, palm oil and soybeans, which have all risen to their highest ever this year. The rally, including record crude prices, has stoked concerns inflation will rise and civil unrest may spread. The food crisis was of ``emergency proportions,'' United Nations Secretary-General Ban Ki-Moon said on April 14.

``The prices are just too high,'' Vic Jarina, the deputy director of the Philippines National Food Authority, said today after the rice-supply offers were announced. ``We will review the bids and decide whether we'll have more tenders.''

Rice, the staple food for half the world, rose as much as 57 cents, or 2.5 percent, to a high of $23.12 per 100 pounds (45 kilograms) on the Chicago Board of Trade. The contract, which has more than doubled in the past year, was at $22.985 at 4:47 p.m. Singapore time.

Civil Unrest

The World Bank has forecast that 33 nations from Mexico to Yemen may face social unrest after food and energy costs increased for six straight years. Haitian Prime Minister Jacques Edouard Alexis was voted out of office this month by the country's senate after violent protests over food costs.

Rice suppliers offered the Philippines 325,750 tons compared with the 500,000 tons tendered for, according to the tally from the National Food Authority. Prices were more than 40 percent higher than the last tender in March, which also fell short of requirements.

``We can't really cut down on rice because that's our main staple,'' Edwin Sudiacal, 31, a security guard in Manila, the Philippine capital, said today. He said he's forced to buy costlier rice at commercial outlets as there aren't enough state- subsidized supplies.

`Control Exports'

China's Finance Ministry said: ``If we can effectively control exports, we can ensure fertilizer needs for planting in spring, and curb the rising trend of domestic fertilizer prices.''

The increased taxes, which will boost the tariff range from 0 percent to 35 percent, to 100 percent to 135 percent, will apply from April 20 to Sept. 30.

If China effectively stops exporting fertilizers, it may be ``fatal'' for the global supply of some products, such as ammonium phosphate, Xu Hongzhi, an analyst at Beijing Orient Agribusiness Consultant Ltd., said before the ministry's announcement.

China also started to tax wheat exports at a rate of 20 percent this year, according to a December statement from the Finance Ministry. The tax for corn and rice was set at 5 percent.

Food-importing countries worldwide are cutting taxes to try to secure supplies. Turkey will abolish import duties on rice to counter speculation that has pushed prices up in recent weeks, Agriculture Minister Mehdi Eker said today.

Egypt, Africa's largest rice exporter last year, will reduce the land allocated for planting the grain to save water and encourage farmers to grow more corn, Agriculture Minister Amin Abaza said in an interview April 15.


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Jeff Marshalek

 2008/4/17 6:21Profile
enid
Member



Joined: 2006/5/22
Posts: 2670
Nottingham, England

 Re:

Don't know if you have noticed the price changes, but we have.

Went shopping the other day.

I picked up the rice we usually buy. I said to my husband, 'How much does this rice normally cost?'

He said, '79p'

I said, 'I thought so. It's now £1.09p'

The cooking oil has doubled in price, and the flour has almost doubled in price.

Thing is for us westerners, we can still afford these prices, even if we don't like them.

I just wonder, concerning those involved in aid agencies and famine relief, if more people will die from hunger than the numbers that die on a daily basis when there is no food shortages.

 2008/4/17 7:09Profile









 Re:

Quote:
bubbaguy wrote: Meat may be cheap, but Christians should not eat it. God gave us "every seed bearing plant" for food in Genesis 1:29.
bub

Though I agree with you to certain extent, however, there is nothing wrong with eating animal meat. God commanded Peter to "kill and eat" any of the unlawful eating animals on the sheet.

When Abraham saw the Angel of the LORD he commanded Sarah to kill the fatted calf and prepare it to the LORD to eat.

Samuel commanded that a large portion of meat be given to Saul. If such a thing is not lawful why the offering?

Jesus ate fish, and God knows what else.

To tell you the truth this is a personal conviction and shouldn't be placed on anyone else, unless they are interested in becoming Vegetarians.

I like the idea of a being a semi Vegetarian, eat veggies and fish and the occasional chicken. But if someone plops a juicy roast ham with all the fixings in front of me, I ain't going to refuse.

 2008/4/17 8:26
enid
Member



Joined: 2006/5/22
Posts: 2670
Nottingham, England

 Re:


Compliments,
Take everything bubbaguy says with a pinch of salt.

Including the meat!

God bless.

 2008/4/17 8:30Profile





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