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Food costs have soared worldwide, spurred by increased demand in emerging markets like China and India; competition with biofuels; high oil prices and market speculation.
Originally posted by marg6043
reply to post by wutone
The hype was caused by the speculators the same people that are causing the oil prices to soar when in the US gas usage has gone down.
Now they are after the rice shortage trying to get the prices higher, but US have more than enough rice production.
Wal-Mart unit limits rice purchases
Top retailer Wal-Mart's Sam's Club unit said Wednesday it is limiting the amount of rice individual shoppers could buy at one time, as rice prices hit new records around the world.
Sam's Club said it had temporarily placed limits of four 20-pound (nine-kilogram) bags a person for jasmine, basmati, and other long-grain white rice types.