Skip to comments.Wal-Mart Bans Bulk Sales Of Rice
Posted on 04/23/2008 7:32:50 PM PDT by blam
Wal-Mart bans bulk sales of rice
By Our Foreign Staff
Last Updated: 2:42am BST 24/04/2008
The American supermarket chain Wal-Mart yesterday banned bulk sales of rice at its cash-and-carry businesses, as the global food shortage and soaring price of food began to make an impact in the largest consumer nation.
The company's bulk supply division, Sam's Club, announced that it would sell a maximum of four bags of rice to each customer, after Costco, a rival chain, said it would place caps on some rice and flour sales in California.
The limits were imposed after some customers, apparently alarmed by the soaring prices for staple foods, made unusually large bulk purchases after the price of rice in some stores doubled in the past month.
While there was little evidence of "panic" buying, some restaurants and smaller retailers were buying up large stocks in the expectation that prices would soar higher.
Wal-Mart's regular stores, used by millions of Americans, are not subject to the restriction.
"What you're seeing is people who buy in larger quantities, who have a restaurant or a corner store, stocking up because of media reports that prices could go higher," said Dave Heylen, a spokesman for the Californian Grocers' Association.
A statement issued by Sam's Club said the limits were imposed "due to recent supply and demand trends".
James Sinegal, the chief executive of Costco, said the firm would limit only very big purchases.
Any customer wanting 10 pallets of flour probably would be told they could have only one pallet, he said.
I think I have a bag or two left over from Y2K. Not sure about the Spam.
Maybe I should put it up on EBay.
The Doughboy that ate Cincinatti!
or dog food? . . . worse yet, cat litter.
HA! 1920’s saw the big bank runs,
2008 sees the day of the big rice runs, bringing a “depression” of rice worldwide.
check it for worms, first.
Americans hoard food as industry seeks regs
I keep a big bag of rice in the freezer just in case. Have for years.
TP in Zimbabwe is worth more than the money!
The last great TP shortages had Asian’s carrying boxes onto international flights and all the stores shelve were empty.
It follows that the rising prices was going to cause the Asian’s and Latino’s to stock up..since they have experienced these situations before. Give it a couple weeks and there won’t be a bag of rice to find...
It’s been in ziplocks.
I’d like to know what all this is leading up to.
There is always a reason behind hysterical headlines.
Ugh! added enzymes from the plastic. Everything I stored in plastic bags got tossed, for that reason.
They got to me. I seldom eat rice but bought a box of Uncle Ben’s rice yesterday just in case.
It looks like the MSM is trying to create a self-fulfilling prophesy. Frenzied articles in the MSM cause hoarding; hoarding causes temporary, localized shortages; more frenzied reports — etc. Once everyone has horded everything they can; there’ll be a monster glut to clear.
Biblical prophecy: a days wages for a loaf of bread.