Rice prices be goin’ up

April 4, 2008

ricepriceblog.jpg

Rice prices have gone up 100% since July. This is a really big deal for most of the developing world. Similar things have been happening in the wheat and grain markets in the US. People say this is due to high gas prices driving up the demand for ethanol. Corn is being produced more, making land for other foods pricier. It is an issue of opportunity cost. I am not sure why the price of rice is going up so much. Anyone know?

Image taken from Minyanville.com

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