Rice Market About To Boil Over?
The Indian's and the Philippines might be about to get embroiled in a bidding war over rice, this report on Barron's suggests: Turning Up the Heat on Rice.
The Philippines are already the world's largest importer of rice, but might soon have India, normally a leading exporter, vying with them for that top slot.
Just imagine where the price of rice would be already, if we weren't at the end of an eighteen month long recession with everybody licking their wounds.
"To a certain degree, India can substitute wheat, which is plentiful and unlikely to spike higher anytime soon," the article says.
I wouldn't like to bet on that. The only place in India where wheat is plentiful is in the government-owned stores (at least they are telling us it's in there), and they don't seem to be in a rush to release it.
The Philippines are already the world's largest importer of rice, but might soon have India, normally a leading exporter, vying with them for that top slot.
Just imagine where the price of rice would be already, if we weren't at the end of an eighteen month long recession with everybody licking their wounds.
"To a certain degree, India can substitute wheat, which is plentiful and unlikely to spike higher anytime soon," the article says.
I wouldn't like to bet on that. The only place in India where wheat is plentiful is in the government-owned stores (at least they are telling us it's in there), and they don't seem to be in a rush to release it.