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| Rice prices 'to keep on rising' | Rice prices 'to keep on rising' |
| (41 minutes later) | |
| Rice prices are set to keep rising as demand for the staple is outstripping production, the International Rice Research Institute (IRRI) has said. | Rice prices are set to keep rising as demand for the staple is outstripping production, the International Rice Research Institute (IRRI) has said. |
| The Philippines-based body said in its Rice Today publication that more research was needed in how to increase rice productivity. | The Philippines-based body said in its Rice Today publication that more research was needed in how to increase rice productivity. |
| The price of rice has risen by as much as 70% during the past year, with increases accelerating in recent weeks. | The price of rice has risen by as much as 70% during the past year, with increases accelerating in recent weeks. |
| Several rice-producing countries have put curbs on exports in recent weeks. | Several rice-producing countries have put curbs on exports in recent weeks. |
| 'Research needed' | 'Research needed' |
| class="lp" href="http://news.bbc.co.uk/1/hi/talking_point/default.stm">HAVE YOUR SAYWith a growing world population, the availability of food will be governed by priceJudie, UK class="" href="http://newsforums.bbc.co.uk/nol/thread.jspa?forumID=4606">Send us your comments | |
| "Longer term demand-supply imbalance is clearly indicated by depletion of stock that has been going on for several years,¿ said Sushil Pandey, agricultural economist at the IRRI. | |
| "We have been consuming more than what we have been producing and research to increase rice productivity is needed to address this imbalance." | "We have been consuming more than what we have been producing and research to increase rice productivity is needed to address this imbalance." |
| The institute said several factors were behind the rise in rice prices. | The institute said several factors were behind the rise in rice prices. |
| Land for producing rice and irrigation water is being lost to industrialisation and urbanisation. | Land for producing rice and irrigation water is being lost to industrialisation and urbanisation. |
| The growing appetite among Asia's burgeoning urban middle class, especially in India and China, for meat and dairy products is also leading to less land for rice production. | The growing appetite among Asia's burgeoning urban middle class, especially in India and China, for meat and dairy products is also leading to less land for rice production. |
| Factors such as the flooding in Indonesia and Bangladesh and recent cold weather in Vietnam and China have also hurt production, it said. | Factors such as the flooding in Indonesia and Bangladesh and recent cold weather in Vietnam and China have also hurt production, it said. |
| Export restrictions are in place in major rice producing countries such as India, China, Vietnam and Egypt | Export restrictions are in place in major rice producing countries such as India, China, Vietnam and Egypt |
| Rice is the staple food for about three billion people worldwide. | Rice is the staple food for about three billion people worldwide. |
| The prices of soybeans, corn and wheat are also near historic highs. | The prices of soybeans, corn and wheat are also near historic highs. |