Sam's Club Limits Rice Purchases Nationwide 

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Sam's Club Limits Rice Purchases Nationwide
(Notice the emphasis on no nationwide flour and cooking oil limits 'yet.')
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23 Apr 08 - Sam's Club warehouse division said on Wednesday it is limiting sales of several types of rice, the latest sign that fears of a rice shortage are rippling around the world.

Sam's Club is limiting sales of the 20-pound (9 kg), bulk bags of rice to four bags per customer per visit, and is working with suppliers to ensure the products remain in stock.

Sam's Club said is not limiting sales of flour or cooking oil at this time.

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.

The situation has sparked food riots in several African countries, Indonesia, and Haiti. United Nations Secretary-General Ban Ki-moon has warned that higher food prices could hurt global growth and security.

Rice prices have risen 68 percent since the start of 2008.


http://www.reuters.com/article/marketsNews/idUSN2323679120080423
Thanks to Charles Patrick for this link



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