Food Crisis Worsens as Rice Prices Surge
Apr 23rd, 2008 | By Contrarian Profits | Category: Featured, Financial NewsRice prices have hit fresh records after World Bank officials said Thailand, the largest exporter of the grain, may restrict exports, worsening the global food crisis.
The price of rice, which has doubled in the past year, jumped 2.3% in Chicago today.
“Soft commodities are now the best-performing sub-set of the commodity bull market,” says Eric Roseman in the Offshore A-Letter.
“It’s the perfect storm for investors – especially when just about everything else in the investment world has continued to post big declines since last July.
“Commodity service-providers have launched a blizzard of commodities ETFs over the last 12 months. These new ETFs allow both individual and institutional investors access to hot commodities like coffee, wheat, sugar and corn, to name only a few.”
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