'High rice prices to last long'
Saturday, April 12, 2008
RICE prices are likely to keep rising for some time as production of the staple fails to keep up with soaring demand, the International Rice Research Institute (IRRI) said yesterday.
"Longer term demand-supply imbalance is clearly indicated by depletion of stock that has been going on for years, the latest edition of the IRRI publication Rice Today quoted IRRI economist Sushil Pandey as saying.
"We have been consuming more than what we have been producing and research to increase rice productivity is needed to address this imbalance," Pandey added.
Just 7 per cent of the annual global production of the grain, a staple food of more than three billion people mostly living in the developing world, is traded in the international market.AFP
"Longer term demand-supply imbalance is clearly indicated by depletion of stock that has been going on for years, the latest edition of the IRRI publication Rice Today quoted IRRI economist Sushil Pandey as saying.
"We have been consuming more than what we have been producing and research to increase rice productivity is needed to address this imbalance," Pandey added.
Just 7 per cent of the annual global production of the grain, a staple food of more than three billion people mostly living in the developing world, is traded in the international market.AFP
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