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The cost of rice has shot up dramatically in recent months, and some analysts say a domestic shortage is on the horizon. The price increase is part of an alarming trend that’s seen the cost of flour rise 13 percent, milk 10 percent, eggs 30 percent and soon – make sure you’re sitting down – beer 10-15 percent.
According to the Daily News, Sam's Club and Costco are now limiting how much rice customers can buy because of what Sam's Club called "recent supply-and-demand trends." In New York City, the price of a 20-pound bag of rice has gone up from $9 to $16 since February.
The cost is being driven by a number of factors: Developing countries like India and Vietnam have been limiting exports of rice to try and control high prices at home, where booming populations and poor crop yields have made the staple a luxury for many. And China has dramatically reduced rice exports to the U.S. because the weakling dollar has made it unprofitable. The only thing slowing the price increase is that domestic production of long-grain and medium-grain rice remains solid.
Skyrocketing prices of rice, wheat, corn and soybeans have already led to massive food riots in developing countries. Here in New York, it’s only led to worrying – for now: 87-year-old Louise Maniloff, tells the News she tries “not looking at prices anymore because it's very disgusting.”
Photo of Costco rice ration courtesy AP/Paul Sakuma.
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A pint of Brooklyn Lager at my favorite bar went from $3 to $4 the other day (along with similar increases for the other beers).
Looks like I'm going on the Soylent Green diet before swimsuit season this year.
How do you say "ITS MADE OF PEOPLEEEEEEEEEEE!" in Chinese?
RIP Chuck Heston.
Sloppy journalism here.. the News only has a quote from Sam's Club, but says both outlets were limiting rice purchases.
WCBS' article says: "At this time we're not going to engage in any limiting or whatever, but it's always a possibility," said Costco vice president John Eagan.".. but then at the bottom it also says "Costco has put a similar restriction on bulk sales of rice and flour."
Wow it didn't take long for the worldwide food crisis to hit our shores. These dramatic price increases are destabilizing a number of developing countries from Malwai to Haiti to the Phillippines. Just be happy that only about 10% of your income goes into food unlike in the 3rd world where it's often around 60%
You're so right Alex. We've been very lucky in this country for a very long time. The money most of us earn in one hour of work can buy more food than most people in the world can buy in a month. Food rationing is pretty scary though.
#6 - You mean Americans won't be able to have EVERYTHING they want WHENEVER they want (to waste) it?!? OMG - whatever will we do?!?
Food riots? Wow. I guess California's lucky that they have the Governator. He can reprise his Ben Richards role from The Running Man if things get ugly there.
Anyone see the NY Times article about the rice crop in Australia? Besides the drought many farmers have stop growing crops and have sold their water rights to vineyards. Think about that the next time you're sipping a lovely fruit bomb shiraz from Down Under.
Eternal War, Food Riots, Global Warming...The apocalypse is upon us...
“Not looking at prices anymore" is not really going to help Louise's budgeting and spending in light of rising food costs.
#4: you raise an interesting point, but contradictory to the Costco VP's quote, that picture is very clearly of a sign at a Costco store (that price sticker on the orange bar is pretty much the Costco standard). While I've never been in a Sam's Club, I'd recognize that Costco price sticker anywhere.
Scary.
Another part of the Bush legacy: worldwide food crisis. Add that to a needless war, which we'll be paying for for generations, a devastated economy, neglect of citizens (let's start with post-Katrina New Orleans), failure to take the lead in biomedical sciences (stem cell ban), lack of progress on energy alternatives,....and the democrats let themselves be drawn into a discussion about whether a lapel pin can be equated with patriotism. What a society we've become.
While ethanol subsidies pushed by both parties may play a huge role (I don't think you can pin this one on Bush), I think an honorable mention needs to go to the folks (and countries) vehemently opposed to GMO crops. Malthus' dire predictions haven't come true yet due to the repeated advances in agricultural productivity, and GMO crops are necessary for another jump in productivity. Perhaps riots, starvation, etc. will bring the agricultural luddites around.
While some Bush policies (mainly ethanol subsidies) are to blame.. you really can't blame him for a drought, or for people fucking like rabbits in other countries.
I feel like we are living like SOYLENT GREEN now. with people living on the floor. Why do poor people continue to have children?
And once again a Gothamist thread devolves into a rant about Bush ad Iraq. Kudos to famdoc. Now go over to the pizza thread and work your magic!