Saturday, February 5, 2011

Rice and Sugar Prices

This post is from a food storage group on yahoo:

Hi all

I know living in a different country means that what affects me living in Australia may not have an impact on anybody living elsewhere but I feel impressed to tell you to think of stocking up on rice and sugar.

Because of the floods in South Eastern Australlia, the rice crops have been severely reduced. With the advent of Cyclone Yasi in Far North Queensland, nearly all the sugar crop has been destroyed.

This will mean that prices will rise sharply here in Australia.

If you're thinking this doesn't concern me because I am somewhere else, just think about what this does to the world wide crop estimates. Food shortages anywhere affect us all because of the commodities market. Buyers will start huge amounts of stocks because of fear or greed which then drives up the price world wide.

How is the adverse weather where ever you are, affecting the crops that are in the ground or waiting to be sown?

Something to think about.

Erin in Sydney, Australia

Another poster mentioned that the potato crop in Idaho was not as big as expected this year and the prices should be soon rising.

1 comment:

  1. I saw the message in the bulletin today regarding rice in #10 cans. I wasn't going to get any, thinking I have enough. BUT, this article changed my mind. I am going to order some. Thanx for the fright.