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Thursday, March 27, 2008

Rice Prices explode on the world market



From the Bangkok Post (2008-03-25):
"Cambodia banned rice exports to protect domestic food security on Wednesday, after spiraling food prices pushed the price to the equivalent of 31 baht a kilogram.
The move comes amid the steady climb in the price of most staple goods, including the doubling of the cost of cooking gas, which has put increasing strain on large numbers of Cambodians.
"Cambodia will halt the export of rice for two months," Prime Minister Hun Sen said." ...
"Despite GDP growth averaging 11 per cent over the past three years, more than a third of the country's 14 million people live on less than 50 US cents (less than 16 baht) a day, making even the slightest rise of food costs devastating to Cambodia's poorest."


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