The cost of rice is expected to go up in the coming months, as an improving global economy raises demand, and drought cuts production in countries such as India.
The
cost
of
rice
is
expected
to
go
up
in
the
coming
months
,
as
an
improving
global
economy
raises
demand
,
and
drought
cuts
production
in
countries
such
as
India
.
Some economists say prices for rice, the Precision Castingstaple food for much of the world's population, could be returning to levels that sparked inflation fears in much of Asia last year.
Some
economists
say
prices
for
rice
,
the
Precision
Castingstaple
food
for
much
of
the
world
's
population
,
could
be
returning
to
levels
that
sparked
inflation
fears
in
much
of
Asia
last
year
.
Charuk Singhapreecha is dean of the faculty of economics at Thailand's Kasetsart University.
Charuk
Singhapreecha
is
dean
of
the
faculty
of
economics
at
Thailand
's
Kasetsart
University
.
He says prices-especially for Thai rice-are being pushed higher by new customers coming into the market after the economic slowdown of the past year.
He
says
prices-especially
for
Thai
rice-are
being
pushed
higher
by
new
customers
coming
into
the
market
after
the
economic
slowdown
of
the
past
year
.
"They expect that the world demand will increase and Cast steel we expect that the price of rice will increase next year," Charuk said.
``
They
expect
that
the
world
demand
will
increase
and
Cast
steel
we
expect
that
the
price
of
rice
will
increase
next
year
,
''
Charuk
said
.
"There are many new markets for the Thai rice and also we still have for our old customer-China, some Arab countries-they will increase the demand."
``
There
are
many
new
markets
for
the
Thai
rice
and
also
we
still
have
for
our
old
customer-China
,
some
Arab
countries-they
will
increase
the
demand
.
''
Prices on the global market could again near the record above 1,000 a ton set in the middle of 2008.
Prices
on
the
global
market
could
again
near
the
record
above
1,000
a
ton
set
in
the
middle
of
2008
.
This month, export prices for Southeast Asian rice have jumped from about 550 a ton or less to more than 650.
This
month
,
export
prices
for
Southeast
Asian
rice
have
jumped
from
about
550
a
ton
or
less
to
more
than
650
.
Vichai Sriprasert, president of the Thai Rice Exporters Association, says further weakness in the US dollar and concerns over drought add to pressure on prices.
Vichai
Sriprasert
,
president
of
the
Thai
Rice
Exporters
Association
,
says
further
weakness
in
the
US
dollar
and
concerns
over
drought
add
to
pressure
on
prices
.
Market experts say next year India is likely to try to import three million tons of rice-entering the world market for the first time in 21years-because of a drought.
Market
experts
say
next
year
India
is
likely
to
try
to
import
three
million
tons
of
rice-entering
the
world
market
for
the
first
time
in
21years-because
of
a
drought
.
Vichai also warns that increasing demand for bio-fuels from grain could reduce food crops, forcing the price of food grains higher.
Vichai
also
warns
that
increasing
demand
for
bio-fuels
from
grain
could
reduce
food
crops
,
forcing
the
price
of
food
grains
higher
.
"This is very serious.
``
This
is
very
serious
.
That's why the price of rice will not go back to the level that we used to see," Vichai said.
That
's
why
the
price
of
rice
will
not
go
back
to
the
level
that
we
used
to
see
,
''
Vichai
said
.
"It will have to be elevated at a higher level, but I don't know where."
``
It
will
have
to
be
elevated
at
a
higher
level
,
but
I
do
n't
know
where
.
''
The Philippines this week said it is cutting rice imports because of high prices, even though the country lost more than a million tons of grain to typhoons this year.
The
Philippines
this
week
said
it
is
cutting
rice
imports
because
of
high
prices
,
even
though
the
country
lost
more
than
a
million
tons
of
grain
to
typhoons
this
year
.
Officials from Vietnam, a leading export competitor with Thailand, predict prices will reach about 800 a ton by the middle of 2010.
Officials
from
Vietnam
,
a
leading
export
competitor
with
Thailand
,
predict
prices
will
reach
about
800
a
ton
by
the
middle
of
2010
.
This week the Philippines'National Food Authority offered almost 665 a ton for 600,000 tons of Vietnamese rice.
This
week
the
Philippines'National
Food
Authority
offered
almost
665
a
ton
for
600,000
tons
of
Vietnamese
rice
.
Economists say higher food prices will only increase the problems faced by the region's poor, who are highly dependent on rice as a staple food.
Economists
say
higher
food
prices
will
only
increase
the
problems
faced
by
the
region
's
poor
,
who
are
highly
dependent
on
rice
as
a
staple
food
.
The cost of rice is expected to go up in the coming months, as an improving global economy raises demand, and drought cuts production in countries such as India. Some economists say prices for rice, the Precision Castingstaple food for much of the world's population, could be returning to levels that sparked inflation fears in much of Asia last year.  Charuk Singhapreecha is dean of the faculty of economics at Thailand's Kasetsart University. He says prices-especially for Thai rice-are being pushed higher by new customers coming into the market after the economic slowdown of the past year. "They expect that the world demand will increase and Cast steel we expect that the price of rice will increase next year," Charuk said. "There are many new markets for the Thai rice and also we still have for our old customer-China, some Arab countries-they will increase the demand."  Prices on the global market could again near the record above 1,000 a ton set in the middle of 2008. This month, export prices for Southeast Asian rice have jumped from about 550 a ton or less to more than 650.  Vichai Sriprasert, president of the Thai Rice Exporters Association, says further weakness in the US dollar and concerns over drought add to pressure on prices. Market experts say next year India is likely to try to import three million tons of rice-entering the world market for the first time in 21years-because of a drought.  Vichai also warns that increasing demand for bio-fuels from grain could reduce food crops, forcing the price of food grains higher. "This is very serious. That's why the price of rice will not go back to the level that we used to see," Vichai said. "It will have to be elevated at a higher level, but I don't know where."  The Philippines this week said it is cutting rice imports because of high prices, even though the country lost more than a million tons of grain to typhoons this year. Officials from Vietnam, a leading export competitor with Thailand, predict prices will reach about 800 a ton by the middle of 2010. This week the Philippines'National Food Authority offered almost 665 a ton for 600,000 tons of Vietnamese rice.  Economists say higher food prices will only increase the problems faced by the region's poor, who are highly dependent on rice as a staple food.