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God desires that ALL people would accept God's love and salvation through Jesus Christ. God has compelled me to share information with the world relating to the biblical seven year tribulation in order to share Truth in a deceived world.

In the beginning was the Word, and the Word was with God, and the Word was God. He was with God in the beginning. Through Him all things were made; without Him nothing was made that has been made. In Him was life, and that life was the light of men. The light shines in the darkness, but the darkness has not understood it. (John 1:1-5)

Jesus answered, "I AM the way and the truth and the life. No one comes to the Father except through me." (John 14:6)

Thursday, March 27, 2008

FT.com / MARKETS / Commodities - Jump in rice price fuels fears of unrest

FT.com / MARKETS / Commodities - Jump in rice price fuels fears of unrest
Rice prices jumped 30 per cent to an all-time high on Thursday, raising fears of fresh outbreaks of social unrest across Asia where the grain is a staple food for more than 2.5bn people.

The Egyptian export ban formalises a previously poorly enforced curb and follows similar restrictions imposed by Vietnam and India, the world’s second- and third-largest exporters. Cambodia, a small seller, also on Thursday announced an export ban.

These foreign sales restrictions have removed about a third of the rice traded in the international market.

“I have no idea how importing countries will get rice,” said Chookiat Ophaswongse, president of the Thai Rice Exporters Association. He forecast that prices would rise further.

The Philippines, the world’s largest buyer of the grain, said on Thursday it wanted to purchase 500,000 tonnes after it failed to buy a similar amount earlier this month. It is struggling to import 1.8m-2.1m tonnes to cover a production shortfall and on Thursday confirmed it would tap emergency stocks maintained by Vietnam and Thailand.

Rice is also a staple in Africa, particularly for small countries such as Cameroon, Burkina Faso and Senegal that have already suffered social unrest because of high food prices.

Thai rice, a global benchmark, was quoted on Thursday at $760 a tonne, up about 30 per cent from the previous daily quote of about $580 a tonne, according to Reuters data. Some traders, however, said the daily jump was not as steep, adding that Thai rice had already traded at about $700 a tonne this week.

Rice prices have doubled since January, when the grain traded at about $380 a tonne, boosted by strong Asian, Middle Eastern and African demand.

Blogger's note: Worldwide food prices are quickly adding to the global economic crisis. War will likely follow according to history. Watch and pray (and prepare).

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