Rice prices all over the world set record highs yesterday and overnight… again. Futures in Chicago punched through the $25 level in yesterday’s session. Now up 26% in April alone, Chicago rice is climbing at its fastest monthly pace since 1993.
Then, as we slept, Thai rice (the world’s most traded rice) shot up to $1,000 a ton. We got our hands on a chart of this stuff… unbelievable:
Your eyes do not deceive you… prices have tripled since the New Year. A month ago, when we were shocked at the $720 sticker price. Now $1,000? Oy…
People of the world’s poorer nations are thrilled. Here’s a Bangladeshi man expressing his excitement to a policeman. About 20,000 of his friends joined him in the latest food riot there.
A U.N. “peacekeeper” was dragged out of his car and shot in Haiti, where riots over the price of food occur almost daily. In the Ivory Coast, a mob of 1,500 overturned cars and burnt tires while chanting, “We are hungry.”
Senegal, Kenya, Egypt, Cameroon, Jordan, Yemen, Pakistan, India, Mexico, Mozambique, Zimbabwe….
Several stocks related to rice include MOS or you can just play with commodity.
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