Saturday, April 26, 2008

Brazil bans rice exports, protests in Peru

From The Real News

Africa, Latin America to be short 500K tons of rice as Brazil becomes latest country to ban rice exports

Brazil has banned the export of rice over fears that a supply crunch and rising global prices could threaten food supplies at home. Reinhold Stephanes, Brazil's agriculture minister, said the move was in response to a number of other countries, mostly in Asia, who have also banned rice exports, causing an imbalance in the global rice market. The move came the same week as the World Food Programme said its budget deficit as a result of soaring food prices hit $755 million.

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