Kitchen of the World

Rice advanced to a record as World Bank officials said they are concerned Thailand, the largest exporter, may restrict shipments, worsening a global food crisis. If a key exporter like this limits foreign sales, it would be very much like Saudi Arabia reducing oil exports, China, Vietnam, India and Egypt have curbed overseas sales to safeguard domestic supplies and cool inflation. Rice, the staple for half the world, has more than doubled in the past year.
The grain rose as much as 2.3 percent in Chicago today and has climbed 25 percent this month. Wheat, corn and soybeans gained to records this year, spurring social unrest in countries including Haiti and Egypt. Soaring prices may put basic foods beyond the reach of the poorest people, raising the risk of a silent famine... in Asia, a World Food Program official said April 21.The poor will struggle to afford costlier food even as supplies stay available in shops... Thailand, which ships one-third of the world's exports, may follow its Asian neighbors in limiting sales.... T
he more countries impose export constraints, the stronger the pressures become for Thailand to do the same... According toThailand Prime Minister Samak Sundaravej, the nation won't impose curbs on overseas exports, adding there would be no measures by the government that may distort prices. Thailand will lose the name of `kitchen of the world should it reduce shipments... The price of grade-B white rice, the benchmark export variety, reached a record $854 a ton on April 9, the most recent date for which prices are available. This compares with $327.25 a ton this time last year.
Thailand exports almost twice the amount of rice as India, its nearest rival. UN Secretary-General Ban Ki-Moon said April 20 rising food costs may hurt economic growth and threaten political security. The World Bank has forecast that 33 nations from Mexico to Yemen may face social unrest because of higher food and energy costs.