Behind the Price of Rice

Behind the Price of Rice
Rising fuel and fertilizer costs are only part of the problem. Transcript of radio broadcast:
01 May 2008

This is the VOA Special English Economics Report.

Poor families in some countries spend as much as eighty percent of their money on food. They have watched helplessly as rising prices in recent months have created the worst food crisis in more than thirty years. The United Nations World Food Program says high food prices could push one hundred million people into hunger.

Half the world's people depend on rice as a main part of their diet. Yet the price has tripled in the past year. Inflated costs for fuel and fertilizer have played a part.

Economist Nathan Childs at the United States Agriculture Department says another reason is the falling value of the dollar. This has hurt the ability of some nations to buy food.

But he says the main reason is export limits in some rice-growing nations. This means less rice on the world market.

Nathan Childs is an expert on rice markets. He notes that the harvest for the latest growing season was the largest on record. But India, Vietnam and others have restricted exports to keep prices down at home and protect supplies.

Thailand's agriculture minister says his country will never restrict rice exports. He told the Reuters news agency Thursday that Thailand has enough supplies to meet demand at home and for export.

Thailand is the world's largest rice exporter. Recent signs of an increase in supplies have helped ease record prices for Thai rice. Prices rose last week above one thousand dollars a ton.

Vietnam, the second biggest exporter, has banned exports until June. And Vietnamese officials have now warned that non-food traders who buy rice for speculation will be severely punished.

Speculators try to predict future price movements. They take greater risks than average investors. Experts say speculation is a necessary part of market activity.

But the head of the U.N. Environment Program blames it for the high food prices. "We have enough food on this planet today to feed everyone," Achim Steiner told the Associated Press.

Earlier, a member of the United States Commodity Futures Trading Commission rejected the idea that speculators are the main cause. Bart Chilton blamed reduced harvests and grain supplies and the falling value of the dollar.

U.N. Secretary General Ban Ki-moon called heads of major international agencies to a meeting this week in the Swiss capital, Bern. He says high food prices could harm world trade, economic growth, social progress and political security.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

----------------------------Google Translate



背後的食米價格
不斷上漲的燃料和肥料成本只有問題的一部分。全文電台廣播：
2008年5月1日

這是美國之音特別英語經濟學報告。

貧困家庭在一些國家，花費高達80 ％的金錢，食物。他們曾經看過無奈，因為價格上漲在最近幾個月已經創建了最嚴重的糧食危機，在以上的三十年。聯合國世界糧食計劃署說高食品價格可能推億人進入飢餓。

世界上一半的人依靠稻米作為一個主要的一部分，他們的飲食習慣。然而，價格增加了兩倍，在過去一年的工作。誇大成本，燃料和肥料，發揮了一部分。

經濟學家彌敦道childs在美國農業署說，另一個原因是下降的美元價值。這傷害的能力，一些國家購買糧食。

但他說，最主要的原因是出口限制，在一些水稻生長的國家。這意味著少水稻在世界市場上。

彌敦道childs是專家對稻米市場。他指出，豐年為最新的生長季節是最大的紀錄。但印度，越南和其他限制出口，以保持價格下跌在家裡和保護用品。

泰國的農業部長說，他的國家絕不會限制大米出口。他告訴路透社記者週四，泰國有足夠的供應，以應付需求在家庭和供出口。

泰國是世界上最大的大米出口國。最近的跡象增加，在供應，幫助紓緩紀錄，價格為泰國大米。價格上漲上週上述1000美元一噸。

越南，第二大出口國，已經禁止出口，直到6月。和越南官員已經警告說，非食品貿易商購買水稻投機將受到嚴厲懲罰。

炒家嘗試預測未來價格變動的。他們採取更大的風險高於平均水平的投資者。專家們說，投機是一個必要組成部分的市場活動。

但頭部的聯合國環境計劃署指責它為高，食品的價格。 “我們有足夠的食物在這個星球上今天的飼料大家， ”施泰納告訴美聯社記者。

此前，聯合國會員國的商品期貨貿易委員會否決了的想法，炒家的主要原因。巴特chilton歸咎於減少豐收和糧食用品和下降的美元價值。

聯合國秘書長潘基文所謂元首的重大國際機構的會議本星期在瑞士首都伯爾尼。他說，高糧食價格可能會損害世界貿易，經濟增長，社會進步和政治安全。

這是該美國之音特別英語經濟學的報告，書面，由馬里奧裡特爾。我史蒂夫ember 。