Upon request, here is a short blog entry about the current ‘Rice Fever’ in Vietnam.
Last weekend the price for rice doubled due to speculation from many rice sellers in Saigon. Was there really a shortage of rice? Well, it turns out, rice is still plentiful in the country. The Mekong Delta and other rice growing region had a really good harvest this year. The Vietnamese government is even halting rice exports until June of this year but they insisted that they had enough stored.
Much of the rice shortage fears may be the result of some shop owners trying to make a quick profit. I remember reading a news report of stores refusing to sell their bags of rice until the price increased higher.
Do I personally care about what is going on with the rice prices here lately? One of my majors was in global political economic theory. The next growing season rice growers around the world will just plant more rice than normal. Next year prices may be cheaper (well we hope at least). I guess I just need to eat less rice from now on 🙂
Here are some English news stories about the current “Rice Fever’ in Vietnam:
- Rushing to buy rice, prices skyrocketing
- Vietnam authorities act to temper rice rush
- Rice fever to be stamped out in some days
- Food supplies sufficient for both consumption and export, assures PM
(Source: VietnamNet Bridge News)
Hello Kevin, long time reader here but first time poster hehe.
First, it was Brazil who stopped exporting rice. Then most countries in Southeast Asia stopped exporting rice. According to the new, gas price was the blame for it and it doesnt even make sense.
So I don’t know what is going on honestly, we still have our bag of rice and wont need new rice until next month. Hopefully it wont cost too much next time. I am from the US by the way.
Just want to say thank you for the blog, it is good and keep me entertaining. Keep up the good works.
The Economist did a pretty good job explaining explaining the current ‘rice fever’. Bio-fuels are partially to blame since farmers are growing more corn than rice or wheat. That will change next growing season if the price of rice and wheat remain high.
Fuel prices are higher and of course the cost of transportation will affect all prices.
Speculators play a big role as well in creating the hysteria so they can profit from the scare.