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what happend to the price of rice?

V

vital

Platinum Member
It nearly doubled for a bag of rice at the grocery store... First gasoline and now rice... 🙁
 
Supply/demand.

Just like wheat, alot of the worlds rice crops were hit hard this past year. This translates into higher prices.
 
Originally posted by: ChaoZ
Lol, my mom was just complaining about this. It only happened in a matter of 2 weeks.
Click to expand...

The way commodities are bought and sold you can see bigger one day price jumps.
 
Originally posted by: vital
It nearly doubled for a bag of rice at the grocery store... First gasoline and now rice... 🙁
Click to expand...

Price of agriculture commodities are soaring. It's not just rice. Wheat, soybean, corn, sugar, etc. Pretty much everything. The same 50lb bag of flour I bought for less than $10 couple years is now almost $40. Bakery shops have to be hurting.

Rice prices in Asia are soaring and spreading to the US. My wife bought six 40lb bags of rice last weekend to stock up before the price hike.
 
The ethanol craze is hitting food crop prices in all categories. Many crops are being taken out of production so the farmer can grow corn for the local ethanol plants. This is driving corn, wheat, (apparently now rice) as well as beef, pork, and chicken prices higher. Add to that the cost of the fuel used, from planting all the way to the stores, and you get much higher prices at the check-out.
In my environmental conservation class, the instructor (who is an ag instructor and farmer) says to watch for the price of bread to hit $5.00 before the end of the summer. He tracks crop prices across the board for his various ag classes and says the trend is there for it.
However, he must be a fan of Dave, because he says we're gonna see $5.00 gasoline before the summer is over too. 😉
 
Haha.. Price of rice.. it rhymes...

Yeah, but I noticed this too. Costs so damn much for rice these days. But at the very least, those bags give me a workout
 
i heard that thailand was running out of rice, so they had to start charging more for it here.
 
Originally posted by: SampSon
Agriculture commodities are the hip new way for the rich to become richer.
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Ain't nuthin new about that...ever hear of Archer Daniels Midland? (ADM) They've done a mighty-fine job of getting rich on ag commodities over the years.
 
Originally posted by: BoomerD
Originally posted by: SampSon
Agriculture commodities are the hip new way for the rich to become richer.
Click to expand...

Ain't nuthin new about that...ever hear of Archer Daniels Midland? (ADM) They've done a mighty-fine job of getting rich on ag commodities over the years.
Click to expand...

Are you ready yet?

To join the legions of those with no lives, AKA LIFERS!?
 
Farmers are taking the oil company approach to profits.

I kid you not. Demand for corn is going up in 2008, but US farmers will be planting less of it than last year. Why? It keeps prices inflated so they can generate more profit per acre.

Sounds familiar, eh? We have record inventories of oil worldwide, but gas prices have climbed because we have less refineries in operation now than we used to. Oil companies can keep prices high if they refine oil at a pace where demand outstrips supply.
 
Originally posted by: BoomerD
The ethanol craze is hitting food crop prices in all categories. Many crops are being taken out of production so the farmer can grow corn for the local ethanol plants. This is driving corn, wheat, (apparently now rice) as well as beef, pork, and chicken prices higher. Add to that the cost of the fuel used, from planting all the way to the stores, and you get much higher prices at the check-out.
In my environmental conservation class, the instructor (who is an ag instructor and farmer) says to watch for the price of bread to hit $5.00 before the end of the summer. He tracks crop prices across the board for his various ag classes and says the trend is there for it.
However, he must be a fan of Dave, because he says we're gonna see $5.00 gasoline before the summer is over too. 😉
Click to expand...

Data doesnt really jive with the ethonal theory.

Wheat crops around the world were ravaged by bad weather last season. Other than that production(the amount planted) was holding steady. Wheat production hasnt grown because the price of wheat has made it hard to make money until it shot up over the past year or so. Wheat prices will go down as more producers produce wheat during the next season.

Rice, apparently had a record yeild last year. Futhermore, rice doesnt generally grow to well in the areas corn grows in and vice versa. You cannot just switch from growing rice to growing corn, it doesnt work that way. Demand for rice is out stripping supply. Outlooks show prices for rice declining in the second half of the year.

 
I drank way too much sake, causing the current scarcity of rice...
 
Originally posted by: Baked
Rice sold out at Costcos. Well Thai rice anyway.
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Apparently a bunch of families stocked up on jasmine rice here too... OOS.
So now my family is going to go back and take 5 bags :laugh:
 
Queue wise ass to come in here and say something really asinine like "why don't you go grow some rice" in 3, 2...
 
Originally posted by: jpeyton
Farmers are taking the oil company approach to profits.

I kid you not. Demand for corn is going up in 2008, but US farmers will be planting less of it than last year. Why? It keeps prices inflated so they can generate more profit per acre.

Sounds familiar, eh? We have record inventories of oil worldwide, but gas prices have climbed because we have less refineries in operation now than we used to. Oil companies can keep prices high if they refine oil at a pace where demand outstrips supply.
Click to expand...

Theres 7-8% less being planted this year. Correct. However, projections still have a surplus of 600million bushels.

You seem to be taking a pot shot at farmers.

One bad year can wipe out a several good years.

I know a farmer who just now finished paying off his debt from a disaterious 2003. Farming booms and busts in cycles. Farming boomed in the late 1970s. Busted in the 1980s. Boomed for a short time in the early 1990s, busted by the end of the decade.
Then you have mother nature. 2003 was a bad year for most farmers due to mother nature. Other than mother nature, the 2000s have been stagnent until now.
 
Originally posted by: SSSnail
Queue wise ass to come in here and say something really asinine like "why don't you go grow some rice" in 3, 2...
Click to expand...

Why don't you go grow some rice in your backyard if you like rice so much.
 
Originally posted by: jpeyton
Farmers are taking the oil company approach to profits.

I kid you not. Demand for corn is going up in 2008, but US farmers will be planting less of it than last year. Why? It keeps prices inflated so they can generate more profit per acre.

Sounds familiar, eh? We have record inventories of oil worldwide, but gas prices have climbed because we have less refineries in operation now than we used to. Oil companies can keep prices high if they refine oil at a pace where demand outstrips supply.
Click to expand...

They make millions in corn subsidies, too. WHY ARE WE PAYING FARMERS TO FARM LESS?
 
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