Rice Prices ‘Worrisome’ as Global Supplies Tighten
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Rice prices are “worrisome” as global supplies tighten because of crop losses in some of the largest exporters, according to an official in the Philippines, the world’s biggest buyer.
The global supply-and-demand balance is “not at the 2008 level yet, but it’s pretty worrisome because of the prices,” Lito Banayo, head of the National Food Authority, which handles state rice purchases in the Philippines, said in an interview in Manila yesterday.