Rice,commodity prices still rising in 2010
According to Prakash trading Consultants Company based in India and has specialized in international trade of various commodities such as iron ore, rice, Cashew nuts, tyres, batteries, timber and Ferro alloys etc.
Falling production in commodities from rice to milk is bad news for just about everyone except investors. Rice may surge 63 percent to $1,038 a metric ton from $638 on Philippine imports and a shortage in India, throughout history rice was one of the man’s important foods. Today, this unique grain helps sustain two- thirds of the world’s population. Archeological evidence suggests that rice has been feeding mankind for more than 5,000 years.
Rice Exporters India are very serious about these issues of price hiring every day.They say that Food prices are a politically sensitive issue in India, where poor rural and urban masses make up more than two-thirds of the country’s one billion plus population. The government faces elections next year, and is concerned that runaway food prices could anger voters. Other South Asian countries are also facing a problem. Neighboring Bangladesh faces a massive hike in prices of rice after a cyclone last August wiped out half its rice harvest.
A Bloomberg survey of importers, exporters and analysts showed. The US government says nonfat dry milk may jump 39 percent next year, and JPMorgan Chase & Co. forecasts a 25-percent gain for sugar. Global food costs jumped 7 percent in November, the most since February 2008, four months before reaching a record, the UN Food and Agriculture Organization said.
Tags: Cashew nuts Exporters India, Iron Ore Exporters India, Rice Exporters India, Timber Exporters India, Tyres Exporters India