Charsee
03-04-2008, 08:23 PM
http://www.ft.com/cms/s/0/f40ad5ca-e975-11dc-8365-0000779fd2ac.html?nclick_check=1
Rice stocks have fallen this season to about 70m tonnes, the lowest level for 25 years and less than half the 150m tonnes held in global inventories in 2000.
Vichai Sriprasert, honorary chairman of Riceland International, a leading Thai rice trading company, said he expected the price of rice to rise ?much, much more?.
Some traders said Thai exporters were defaulting on contracts as they were being offered better prices locally.
The next Vietnamese crop, to be harvested in the next few weeks, was unlikely to bring down prices, said Alex Waugh of the industry-backed UK Rice Association. ?It may provide some short-term relief and restraint on prices rising even further.?
Asia has not known famines since the 1970s, and recent price rises for rice and other basic foodstuffs have sparked unrest.
Rice stocks have fallen this season to about 70m tonnes, the lowest level for 25 years and less than half the 150m tonnes held in global inventories in 2000.
Vichai Sriprasert, honorary chairman of Riceland International, a leading Thai rice trading company, said he expected the price of rice to rise ?much, much more?.
Some traders said Thai exporters were defaulting on contracts as they were being offered better prices locally.
The next Vietnamese crop, to be harvested in the next few weeks, was unlikely to bring down prices, said Alex Waugh of the industry-backed UK Rice Association. ?It may provide some short-term relief and restraint on prices rising even further.?
Asia has not known famines since the 1970s, and recent price rises for rice and other basic foodstuffs have sparked unrest.