Indonesia bans wheat exports. Food crisis intensifies - GoFuckYourself.com

ADL Colin · 04-15-2008, 01:46 PM

Wild times.

"The global food crisis intensified on Tuesday when, Jakarta, one of the world?s biggest wheat exporters halted foreign sales and rice prices shot to a record high after Indonesia stopped its farmers from selling the grain abroad

Indonesia ? which joins Vietnam, Egypt, China, Cambodia and India in banning foreign sales ? was expected to export the grain this year due to a bumper crop. Corn futures prices in Chicago last week hit a record $6.16 a bushel, up 30 per cent in the past three months.

Indonesia?s export ban boosted the price of rice futures in Chicago to a all-time high of $22.17 per 100 pounds, up 63 per cent since January. Wheat prices moved higher to $9.11 a bushel and traders warned prices could rise further as the Kazakhstan ban together with restrictions in Russia, Ukraine and Argentina have closed a third of the global wheat market."

http://www.ft.com/cms/s/0/38cd4d58-0...0779fd2ac.html

RuthB · 04-15-2008, 02:03 PM

that's pretty dire... I know bread prices have seriously gone up here, I guess the price of rice will too

DaLord · 04-15-2008, 02:34 PM

During the 90s the farmers were producing far too much in the EU and had to cut down. They are back in speed again here so things will hopefully even out. At least here in Denmark and the rest of Scandinavia.

Mike

04-15-2008, 01:46 PM	#1
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	Indonesia bans wheat exports. Food crisis intensifies Wild times. "The global food crisis intensified on Tuesday when, Jakarta, one of the world?s biggest wheat exporters halted foreign sales and rice prices shot to a record high after Indonesia stopped its farmers from selling the grain abroad Indonesia ? which joins Vietnam, Egypt, China, Cambodia and India in banning foreign sales ? was expected to export the grain this year due to a bumper crop. Corn futures prices in Chicago last week hit a record $6.16 a bushel, up 30 per cent in the past three months. Indonesia?s export ban boosted the price of rice futures in Chicago to a all-time high of $22.17 per 100 pounds, up 63 per cent since January. Wheat prices moved higher to $9.11 a bushel and traders warned prices could rise further as the Kazakhstan ban together with restrictions in Russia, Ukraine and Argentina have closed a third of the global wheat market." http://www.ft.com/cms/s/0/38cd4d58-0...0779fd2ac.html __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"

04-15-2008, 02:03 PM	#2
RuthB Let's Get Paxumized! Industry Role: Join Date: May 2005 Location: Vancouver, Canada Posts: 7,247	that's pretty dire... I know bread prices have seriously gone up here, I guess the price of rice will too __________________ Send & Receive Mass Global Payments - Mass P2P/Wire/EFT/SEPA - Adult Industry Friendly - Award Winning Payment Service - Fast, Reliable & Secure! Paxum ...... Paxum Bank Email: [email protected] ~ Telegram: PaxumRuth

04-15-2008, 02:34 PM	#3
DaLord Confirmed User Join Date: Aug 2001 Location: Denmark Posts: 3,318	During the 90s the farmers were producing far too much in the EU and had to cut down. They are back in speed again here so things will hopefully even out. At least here in Denmark and the rest of Scandinavia. Mike