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Rice fluff: economist says supplies aplenty for U.S. consumers
Southwest Farm Press ^ | Apr 25, 2008 | Kathleen Phillips

Posted on 04/27/2008 2:53:29 PM PDT by EBH

Reports about shortages of rice in the United States probably apply only to several imported varieties, and definitely not to the domestic supply of the popular grain.

“Are we running out of rice? The answer is no,” said Dr. Mark Welch, Texas AgriLife Extension Service agricultural economist.

This week’s news that two large box retailers in the United States were limiting customer purchases of rice was shocking in a nation where food shortages are rare.

Retailers Sam’s Club and Costco reportedly limited bulk sales of some varieties of rice – all of which are imported from other countries – in some stores across the nation, according to the Associated Press.

But the reason behind the limits and the facts about rice supply aren’t in sync, according to Dr. Mark Welch, Texas AgriLife Extension Service agricultural economist.

“Rice markets have been roiled by reports of trade restrictions by large rice exporting countries India, Vietnam, and Brazil and reports of rice rationing in the U.S. by major food retailers Sam’s Club and Costco,” Welch said.

Rice supplies are at relatively low levels, but the surge of panic buying and rapidly escalating prices is not supported by supply and demand fundamentals, he noted.

“Rice is an important staple in the diets of over half of the world’s population. Any price increase on persons with limited economic resources is a hardship,” Welch said. “The recent surge in prices has severe consequences for those who struggle daily for adequate nutrition.”

Welch said per capita consumption of rice has not increased in the last several years. Demand for corn and soybeans is increasing largely due to biofuels and feed use, but wheat and rice demand are basically unchanged.

Welch pointed out these facts about the rice supply:

– People in the U.S. eat about 4 pounds of rice a month. That’s a total of about 10 million hundredweights a month in the nation.

– The U.S. has about 104 million hundredweights in supply right now - a 10-month supply.

– And the new U.S. crop will be harvested beginning in September, only about five months from now, and should replenish supplies.


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: foodcrisis; rice
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To: EBH
"but wheat and rice demand are basically unchanged."

The article falls flat on its face when one looks for some facts on the situation.

.

"Rice yields globally expanded more than 40% from 1980 to 2000, according to data compiled by the USDA. They've increased only about 5% 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."

http://www.financialpost.com/small_business/story.html?id=428566

.

"KANSAS CITY, April 16: The world has “never been less secure” about the near-term future of wheat, US Agriculture Secretary Edward Schafer told food aid groups on Wednesday.

Schafer told the International Food Aid Conference meeting here that global wheat stocks are at historic 30-year lows and US wheat stocks are at 60-year lows. Against that background, the highly virulent African stem rust is quickly spreading to places such as Uganda, Ethiopia, Yemen, India, Pakistan and now Iran.

“With over 75 per cent of US wheat acres planted to varieties that are highly susceptible to this disease, the threat here at home is real and it is urgent,” he said.

The disease, which is carried by wind spores, would be devastating to global food supplies if it affects the US wheat crops, now valued at $16 billion."

http://www.dawn.com/2008/04/17/top17.htm

21 posted on 04/27/2008 4:26:59 PM PDT by bjs1779
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To: sushiman
Minute rice is an abomination .

Food is food when you are poor
Ask a mother with starving children...
22 posted on 04/27/2008 4:35:13 PM PDT by HangnJudge
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To: goodnesswins

Too bad they don’t have price tags on them...to compare.


23 posted on 04/27/2008 4:41:34 PM PDT by Positive (Nothing is sadder than to see a beautiful theory murdered by a gang of brutal facts.)
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To: utherdoul

yeah, like the ethanol subsidies the Bush whitehouse is handing out like halloween candy? now you see why there is a food shortage.


24 posted on 04/27/2008 4:58:40 PM PDT by hedgetrimmer (I'm a billionaire! Thanks WTO and the "free trade" system!--Hu Jintao top 10 worst dictators)
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To: Squantos

Costco is making the most of the food scare by positioning bulk foodstuffs at the front of the store when you walk in.


25 posted on 04/27/2008 5:14:27 PM PDT by Rebelbase (Carbon is the fifth most abundant element on the planet.)
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To: bjs1779

“Schafer told the International Food Aid Conference meeting here that global wheat stocks are at historic 30-year lows and US wheat stocks are at 60-year lows. Against that background, the highly virulent African stem rust is quickly spreading to places such as Uganda, Ethiopia, Yemen, India, Pakistan and now Iran. With over 75 per cent of US wheat acres planted to varieties that are highly susceptible to this disease, the threat here at home is real and it is urgent,” he said.”

I wonder if there’s any way to find out how much Mr. Schafer has invested in grain futures?


26 posted on 04/27/2008 5:17:19 PM PDT by Rebelbase (Carbon is the fifth most abundant element on the planet.)
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To: HangnJudge

” Food is food when you are poor
Ask a mother with starving children... “

Agreed - please chill .

My point was that “ minute rice “ is crap not fit for human consumption UNLESS one is poor . Cool ?


27 posted on 04/27/2008 5:24:15 PM PDT by sushiman
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To: Rebelbase
I wonder if there’s any way to find out how much Mr. Schafer has invested in grain futures?

I noticed that you inadvertently left his title out.

"US Agriculture Secretary Edward Schafer"

28 posted on 04/27/2008 5:24:34 PM PDT by bjs1779
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To: goodnesswins
"An article in Seattle Times today quoted the Costco CEO....people are buying rice, and then selling it on EBAY for 3 times the money.....we don't have a shortage....we just have to re-supply on a daily basis....(Words to that effect.)"

The Costco CEO speaks a steaming pantload.

Ebay rice listings

With the exception of this idiot in Illinois trying to sell an open 20lb. bag of rice for $100 there's nothing going on.

29 posted on 04/27/2008 5:30:33 PM PDT by Rebelbase (Carbon is the fifth most abundant element on the planet.)
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To: bjs1779

Ah! He collects after his term is up!


30 posted on 04/27/2008 5:32:01 PM PDT by Rebelbase (Carbon is the fifth most abundant element on the planet.)
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To: Rebelbase
Ah! He collects after his term is up!

And presto, FOOD for EVERYBODY at CHEAP PRICES! Got it.

31 posted on 04/27/2008 5:34:21 PM PDT by bjs1779
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To: Rebelbase; hiredhand; Gilbo_3

Our family, friends and co-workers have a habit of stocking our pantries and keeping em topped off just in case. I figure they can scare the US for about a year before we worry ....... games are being played.

Doom on the trash pandering such .


32 posted on 04/27/2008 5:34:23 PM PDT by Squantos (Be polite. Be professional. But, have a plan to kill everyone you meet. ©)
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To: EBH

Yeah, eat rice! It’ll make you short in stature like it did the Asian populations until they started importing beef from the Good Ole U.S.A. !


33 posted on 04/27/2008 5:36:16 PM PDT by Revolting cat! (You're gonna cry 96 tears!)
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To: Squantos
Our family, friends and co-workers have a habit of stocking our pantries and keeping em topped off just in case. I figure they can scare the US for about a year before we worry ....... games are being played. Doom on the trash pandering such .

I am wondering. Why would you want to hoard if there is no problem? It seems to be contagious with your acquaintances.

34 posted on 04/27/2008 5:42:36 PM PDT by bjs1779
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To: Revolting cat!
It’ll make you short in stature like it did the Asian populations until they started importing beef from the Good Ole U.S.A. !

The Good Ole U.S.A. farmer is losing 150 bucks a head on his investment right now due to grain costs.

35 posted on 04/27/2008 5:45:53 PM PDT by bjs1779
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To: Cementjungle

“I’m doing my part by choosing garlic mashed potatos over rice every time.”

with grilled venison strips off the grill that have been marinated in liquid smoke and ken davisMMMMMMMMMMMMMMMMM


36 posted on 04/27/2008 5:50:14 PM PDT by ditch bank guru (yet there are soulless men whose hand and mind tear down what time will never give again!!)
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To: bjs1779

We don’t hoard we just keep a stocked pantry......we’ve done such since I was a small child. Nothing new for me or mine. Grandparents used to talk of the depression era etc and times won’t always be good unless one prepares physically or fiscally. The Eagle Scout and Military in me say be prepared. Nothing more......

Stay safe !


37 posted on 04/27/2008 5:51:14 PM PDT by Squantos (Be polite. Be professional. But, have a plan to kill everyone you meet. ©)
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To: Squantos
Oh, I see, you just want to feel popular here.

"Doom on the trash pandering such ."

38 posted on 04/27/2008 5:56:14 PM PDT by bjs1779
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To: bjs1779
I am wondering. Why would you want to hoard if there is no problem? It seems to be contagious with your acquaintances.

I just like having a full pantry. If I feel like having rice, baked beans, couscous, or any of several kinds of pasta, it's there. And I buy my staples at Costco, so I get large boxes of whatever I get

39 posted on 04/27/2008 5:57:56 PM PDT by PapaBear3625 ("In a time of universal deceit, telling the truth is a revolutionary act." — George Orwell)
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To: bjs1779

Well you make up what ya want and insult someone else......no time for such or the likes of you. Sorry you feel that way.


40 posted on 04/27/2008 6:00:57 PM PDT by Squantos (Be polite. Be professional. But, have a plan to kill everyone you meet. ©)
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