Posted on 04/23/2008 9:12:49 AM PDT by Perseverando
NEW YORK — The Sam's Club warehouse division of Wal-Mart Stores Inc. said Wednesday it is limiting sales of Jasmine, Basmati and long grain white rices "due to recent supply and demand trends."
The news came just 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.
Sam's Club said it is limiting sales of the rices to four bags per customer per visit, and it is working with suppliers to ensure the products remain in stock.
Sam's Club, the No. 2 U.S. warehouse club operator, said it is not limiting sales of flour or cooking oil at this time.
Costco said some of its stores had put limits on sales of items such as rice and flour, but it was trying to modify those restrictions to meet customer demand.
Food costs have soared worldwide, spurred by increased demand in emerging markets such as China and India, competition with biofuels, high oil prices and market speculation.
Rice prices 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.
Trade bans have been put in place by India, the world's second largest rice exporter in 2007, and Vietnam, the third biggest, in the hopes of cooling domestic prices of the staple. Thailand is the largest rice exporter.
On Tuesday, the chief executive of Costco, the No. 1 warehouse club operator in the United States, said the company has seen increased demand for items like rice and flour as customers, worried about global food shortages, stock up.
James Sinegal told Reuters the retailer had seen a spike in demand in the past week and
(Excerpt) Read more at reportonbusiness.com ...
What a crock
A four bag limit per customer per visit is not much of a restriction when they are 10-15# per bag.
Time to make the tacos.
I wonder if it is a plan by the evil right wing to make the Mexicans go home.
The media is going to cause a panic if it’s the last thing they do.
Yes, and 40-60 pounds is a lot of rice.
Glen Beck was all over this on Monday. Are we now importing wheat? So we had gas rationing in the Carter 70’s, and now do we have food rationing? This is whacked.
There is very little nutritional value in rice. If you’re gonna stock up, go for beans. Well, mix ‘em and you get a whole protein.
I like potatoes myself...
This is like gas stations limiting purchases to 400 gallons.
I suppose they are trying to keep the oriental/Indian restaurant customers from hoarding.
Total BS...go buy some rice and throw it away!
We don’t actually have food rationing. We have a few stores putting a minor single visit limit on stuff. Happens all the time, usually tied to sales of some kind but “limit X per customer” shows up in many circulars and in store signs all the time.
And rice is not a good emergency food. It has little nutritional value and requires a lot of water and energy to make. So, if people are buying a lot of rice because they are afraid of it being scarce (and they normally eat a lot of it) then go ahead, but it you are laying in supplies for an emergency it’s not a good choice.....
Or burn it so you can do to rice what Congress is doing with corn.
Enriched white rice has nutritional value, plus it is historically an inexpensive source of calories that can be safely stored just about anywhere for long periods of time. Can't say that about potatoes.
Besides, I prefer brown rice and barley. You mention beans, and pinto beans are hard to be for cost and nutritional value.
Just like convincing people there is global warming, they are now going to convince people there is a food shortage.
I guess I should call my wife and tell her to hold off on the 100#’s of rice.
What would be good? I have a couple cases of MREs, a case of bottled water and about 20 gallons of gasoline, but not much beyond that for emergencies.
That depends on what rice you’re having.
Long-grained basmati rice with the bran on, is pretty nutritious.
If you’re going to eat highly polished, short-grain, white rice, then the nutritional value goes down considerably.
Finally, rice is one of those foods that can be stored without spoilage for years, in airtight jars.
I was wondering when somebody was going to start panic bulk bean buying.
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