Sam's Club limiting sales of rice

easymoney

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"NEW YORK (Reuters) - Wal-Mart Stores Inc's Sam's Club warehouse division said on Wednesday that it is limiting sales of Jasmine, Basmati and long grain white rices "due to recent supply and demand trends."

"The news comes a day after Costco Wholesale Corp, the largest U.S. warehouse club operator, said it had seen increased demand for items like rice and flour as customers, worried about global food shortages, stock up."

"Food costs have soared worldwide, spurred by increased demand in emerging markets like China and India, competition with biofuels, high oil prices and market speculation."

"Rice prices in the United States and around the world have more than doubled in the last year, and U.S. rice futures rose to a fresh all-time high Wednesday on worries about supply shortages."

http://www.reuters.com/article/newsOne/idUSWEN514820080423


Guess it's time to stop shipping our rice and all food products overseas and halt all imorts of foreign foods until the supposed trade agreements are reworked to benefit American consumers and trade. Who is getting stabbed in the back here? The American consumer of course...
 

rcrosby

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Why limit the sales? There are some other quotes about Asian families buying rice to ship to their families overseas. A limit doesn't cure that, a price increase does. If they can't keep it on their selves the price is to low. ECON 101. Oh thats right, all the namby pambys would be crying they were price gougers. They would prefer no food on the shelves rather than someone call them price gougers.
 


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