NEW YORK, April 23 (Reuters) - Wal-Mart Stores Inc's (WMT.N: Quote, Profile, Research) Sam's Club warehouse division said on Wednesday that it is limiting sales of Jasmine, Basmati and long grain white rices "due to recent supply and demand trends."
The news comes a day after Costco Wholesale Corp (COST.O: Quote, Profile, Research), the largest U.S. warehouse club operator, said it had seen increased demand for items like rice and flour as customers, worried about global food shortages, stock up.
Sam's Club said it is limiting sales of the rices to four bags per customer per visit, and it is working with its suppliers to ensure the products remain in stock.
Sam's Club, the No. 2 U.S. warehouse club operator, said it is not limiting sales of flour or cooking oil at this time.
Costco said some of its stores had put limits on sales of items such as rice and flour, but it was trying to modify those restrictions to meet customer demand.
Food costs have soared worldwide, spurred by increased demand in emerging markets like China and India, competition with biofuels, high oil prices and market speculation.
Rice prices in the United States and around the world have more than doubled in the last year, and U.S. rice futures rose to a fresh all-time high Wednesday on worries about supply shortages.
Trade bans have been put in place by India, the world's second largest rice exporter in 2007, and Vietnam, the third biggest, in the hopes of cooling domestic prices of the staple. Thailand is the largest rice exporter. (Reporting by Nicole Maestri, editing by Gerald E. McCormick and John Wallace)
© Thomson Reuters 2008 All rights reserved
The Food Crisis
The following links are stories from the media regarding what is going on with the world food supply. Between high fuel costs, widespread drought, and the bees dying off....We are in trouble! Here are some links to current stories regarding the crisis and rapidly rising grain prices:
Rice rationing on the west coast!
Asia Rice Shortage
Austrailian drought = no grains for us!
Food Crisis Grips the Globe!
Plant yer gardens folks!
As soon as the current grain silos empty, we are in BIG trouble!
Current price of ONE lemon in Batavia NY: .99
After reading all of this, one has to wonder WHY our gov't has been busting the farm workers. Are they trying to STARVE us?? Do they WANT us to have to import ALL of our food?? What happens then? With oil marching (rather quickly) to at least $120 a barrel, it is going to cost a FORTUNE to import our food from other countries!
Anyone else becoming as alarmed as me???
I am as shocked as Julie. It should be a requirement taught in music class!!!!! jk (in my mind it should be) Even after all this time (45 years-SCARY!) the Beatles still rule!!!! Yeah Baby!!!!!!!>>>
BOYCOTT ABSOLUT!!!
The subject of my fury:
http://michellemalkin.com/2008/04/02/absolut-reconquista/And my response:
04/03/08
Jeffrey Moran
Director of Public Relations and Events
The Absolut Spirits Company, Inc.
1370 Avenue of the Americas
New York, NY 10019
USA
Dear Mr. Moran:
I have been a loyal Absolut drinker since I graduated college, and began a career on Wall Street in 1984. Don’t even get me started on the THOUSANDS of dollars in sales your company has made off of me over the years.
Today it has come to my attention that Absolut Vodka currently has a highly offensive advertising campaign utilizes a pre 1846 map of North America showing the southern portion of the United States of America as being part of Mexico. I’ve seen a copy of this ad on the internet, and understand that it is both in print and on billboards. As I’m sure your telephones and Email are swamped as a result of this outrage, I have chosen to write an old fashioned snail mail letter.
I am horrifically offended by this advertisement, but seeing as I live in Connecticut (which is not in the part of my country that Absolut decided to give to Mexico), I would bet I’m not nearly as offended as my fellow countrymen who live in the southwestern USA. How unconscionably insulting to them.
I don’t know who the genius is who made the decision to run this ad, but it will cost Absolut dearly. The internet is lit up like a pinball machine over this, so I know I’m not alone in saying that I will NEVER drink your vodka again. EVER.
WHO DO YOU PEOPLE THINK YOU ARE??? ARE YOU ALL SMOKING CRACK???
You want the Mexicans as customers so badly that you would alienate your biggest market? YOU CAN HAVE THEM! They don’t drink vodka anyway, so the joke’s on you!
Why don’t you run another "In An Absolut World" ad for the Middle East, but this time have a map of PALESTINE replacing ISRAEL. I’m sure it would be as big of a hit over there as your Mexico insult is over here. Just imagine all the celebratory gunfire in the streets! I’ve included one for you to give to your advertising people. You have my permission to use my idea. All I ask in return is a case of Stolichnaya!
Regards,
Roadtripguy FORMER Absolut drinker
