Alphabetical           State by State
 Finance Send this page to a friend!  
 Home
 Finance
 Advice
 Banking
 Bankruptcy
 Bonds
 Chats and Forums
 Conventions and Conferences
 Corporate Profiles and Reports
 Currency
 Earnings Calendars
 Exchanges
 Financial Services
 Financing
 Futures and Options
 Hard Assets
 Information Media
 Initial Public Offerings
 Insurance
 Investing
 Investment Models
 Investment Picks
 Motley Fool
 MSN MoneyCentral
 News and Media
 Organizations
 Reference and Guides
 Retirement Planning
 Small-Cap Investing
 Socially Responsible Investing
 Technical Analysis
 Usenet
 Venture Capital
 Web Directories
Copyright © 1998-01 OpenHere
Company Information
Suggest a Site
FAQ
VirtualDesk
Login:

Password:
Thai Rice Prices Hit Record; UN Concerned About Asia Food Security  
Monday, April 28, 2008 2:09 AM

Rice prices in Thailand, the world's leading exporter, reached a record of over one-thousand dollars a ton.  As Ron Corben...


Rice prices in Thailand, the world's leading exporter, reached a record of over one-thousand dollars a ton.  As Ron Corben reports from Bangkok the increase in rice and food prices generally will be the center of debate at a U.N. conference next week.

The surge in rice prices in Thailand continues, with traders reporting benchmark rates climbing more than five percent on Thursday.

A Thai farmer uses a buffalo to plow his rice field in Suphanburi province, central Thailand (file)
A Thai farmer uses a buffalo to plow his rice field in Suphanburi province, central Thailand (file)
Prices have tripled since January, with a ton of Thai rice now selling for more than one-thousand dollars.  Rising food prices around the world already have led to food riots in some African nations and Haiti, and protests elsewhere.

There are fears prices could go higher in Thailand, the world's largest exporter, if Iran and Indonesia decide to buy rice on the international market.

U.N. officials have put food prices at the top of the agenda for an Asia-Pacific ministerial meeting in Bangkok next week.

Noeleen Heyzer is executive secretary for the U.N. Economic and Social Commission for Asia and the Pacific - ESCAP.  She says part of the problem has been poor oversight of farming in several countries.

"Growth has been centered on the urban areas and also the townships, and there has been a terrible neglect of the agricultural sector.  For example, in India where the overall growth rate is nine percent, but the agricultural sector is 2.2 percent," Heyzer said.

The Thai Rice Exporters Association says there is a shortfall of 30 million tons in world rice stockpiles.  The shortage is the result of several factors, including rising demand from countries such as China and India, a severe drought in Australia, and the conversion of farm land to industrial and urban use.

"You have speculation the of food prices and you also have the fact that there is a growing middle class and a wealthy population that is changing in its food intake as well as its food patterns," Heyzer said.

The food inflation also hurts aid organizations trying to feed refugees and the poor around the world.  An official at one agency helping Burmese refugees in Thailand says rising prices have left his organization with a $6 million budget shortfall.  He says that without additional funding, the organization may be forced to halve the ration given to individuals.  


 

Finance
Get Stock Quote: Enter Symbol(s)

Symbol Lookup
My Portfolio
Our Privacy Vow 
  • Financial Home

  • Thousands of Protesters Rally in Northern Japan Against G8 Summit

  • World Oil Prices Ease From Record Highs

  • US Economy Loses More Jobs in June  

  • Analysts: End to Rising Oil Prices Not in Sight  

  • Argonne National Laboratory Works on Alternative Fuel Technology  

  • Economy Putting Squeeze on Retirees  

  • US Economy Loses Jobs for Sixth Straight Month

  • UN: 50 Million More People Hungry Due to High Food Prices

  • Oil Prices Soar to Record High of Nearly $146 a Barrel

  • Zimbabwe Central Bank Seen Constrained In Money-Printing Operations  

  • Group in Kenya Makes Objects of Beauty Out of Trash  

  • Report: Unemployment to Rise in OECD Countries

  • Millions of Truckers in India Begin Strike  

  • US Stocks Gain in Opening Trading

  • Iranian Oil Minister says Attack on Iran Will Impact Oil Prices

  • British Truckers Converge on Parliament in Latest Fuel Cost Protest

  • Top Sustainable Energy Prize Awarded for Energy-Efficient Stove

  • Bush Administration Cites 'Executive Privilege' in Environmental Decisions

  • Natural Disasters Raise Health Concerns  

  • Worldwide Whaling Body Meeting in Chile

  • US Supreme Court Rejects Environmentalists' Challenge to Border Fence

  • Australia, Japan Clash at International Whale Summit  

  • At California Organic Farm, Seeking Enlightenment Through Organic Gardening  

  • Florida Land Deal Will Boost Everglades Restoration  

  • Individual 'Carbon Footprints' Can Be Measured on the Web  

  • British PM Calls for Wind Power; Increasing Global Focus on Alternative Energy

  • Independent Groups Warn Olympics Exacerbating Beijing's Water Crisis  

  • Hungary Opens Eastern Europe's First Sun-Powered Conference Center  

  • India Unveils National Plan to Deal With Threat of Global Warming  

  • Kenyan Honey Project Helps Raise Income