Business / Financial Markets Jul 6, 2023
Rice to get costlier as weather and India's farm perks threaten supply
Rice is a staple for more than 3 billion people and nearly 90% of the water-intensive crop is produced in Asia.
Rice is a staple for more than 3 billion people and nearly 90% of the water-intensive crop is produced in Asia.
Asia produces more than 90% of the world's cheapest edible oil used in cooking, baking and cosmetics.
Analysts say export restrictions will worsen the rise in food prices and risk producing a domino effect as a deepening crisis prompts other countries to take similar steps.
Vegetable oil prices have already risen more than 50% in the past six months, as factors ranging from labor shortages in Malaysia to droughts in Argentina and Canada have curtailed supplies.
Record prices for palm, and new government promises of payouts even if prices slump, are driving an effort to boost output in India.
Hurt by high fuel prices, Vinod Gore, a farmer in Gove village in the western Indian state of Maharashtra, ditched his petrol scooter for an electric model, underlining how two-wheelers are driving the country's goal of electrification of its vehicles. Gore's electric scooter, built by ...
In late September, a woman in National City, California, received a voice message on her phone saying she was in trouble with the Internal Revenue Service (IRS) over "tax evasion or tax fraud." Panicking, she rang the number and told a man who said he ...