MANILA–The Philippines went to the international auction table like a high-stakes gambler, desperate to win rice for its 88 million people – lots of it, in fact 675,000 tonnes. But when regular supplier Vietnam upped the ante to something close to $1,200 per tonne, the Philippines held its cards and walked away. Gutsy?Or just plain foolish?
"We're in a precarious situation," says Dr. Robert Ziegler, head of the International Rice Research Institute here. "Of course, if all goes well, we're fine. But if a few things go wrong, we're not so fine. And if more than a few things go wrong – well, then we're not very good at all."
The Philippines is the world's single largest importer of rice. Some 35 million of its people teeter on the brink of survival, earning less than $2 per day. These poorest of the poor outnumber Canada's total population. And every day the price of rice climbs higher.
Today, the government of President Gloria Macapagal Arroyo still needs another 675,000 tonnes. In addition, the government is betting on domestic rice harvests will come on stream swiftly – just as the typhoon season is set to explode.
But nothing is certain in these times of unpredictable turbulence.Except for this: as the West looks on from the cocoon of its comforts – seeing rice as little more than a side dish for an exotic Asian meal – in the Philippines, rice is destiny... www.thestar.com
Worldwide shortage of rice shoots prices soaring
Asia News Network . Bangkok
As the price of rice climbs across South Asia, farmers and millers in Thailand are sitting on stocks and waiting for it to rise even further, said a top rice exporter in Bangkok.
The exporter, who requested anonymity, told The Straits Times: 'In my 25 years of trading, I have never seen such a bad position.' There is a rice shortage in Bangladesh and China too, among other countries, while there is a wheat shortage in Afghanistan.
In local markets in Pakistan, the price of rice has gone up over the past month by more than 60 per cent year on year. India recently contributed to soaring world prices when it imposed a ban on rice exports — relaxed only partially to allow some supplies to Madagascar, Mauritius, the Comoros Islands and cyclone-hit Bangladesh. China has banned rice exports to ensure enough is available for domestic demand.
From Kansas to Kabul, high rice and wheat prices are worrying officials and economists, and beginning to hit consumers — especially tens of millions of poor people — harder than many can remember. In Singapore, while rice importers and supermarkets have no problems getting the staple grain, prices have escalated... www.independent-bangladesh.com
