Rice prices are going up, way up high

Posted by charleslemark on May 8, 2008 · Leave a Comment

As I have already spread out in the first part of this post, there are many factors why the rice prices are going up, way up high. Personally, I believe that there is a rice shortage, unlike the statements of our government officials disputing the rice shortage as a myth.

The Philippines has been scrambling to boost stocks and supply cheap rice to the poor as rice prices soared to near-record levels in recent months amid increased demand, crop failures, a shift to biofuels production or other land uses, and poor investment in the farm sector. The Philippines imports about 10 percent of its domestic rice requirement. The problem with our culture system…

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