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Food Prices Surge

April 24th, 2008 · 1 Comment

Food Prices Surge. Stores Limiting What You Buy

Food Prices

You heard right. CNN reports that Sam’s Club is limiting the amount of rice you can buy. According to CNN, and quoting Sam’s Club (a division of Wal-Mart Stores Inc.), “The store will limit customers to four 20-lb. bags of jasmine, basmati and long-grain white rice.” That’s right folks, if you’re looking to buy 100 pounds of rice, forgetaboutit!

Seems like we’re headed to some other time period, where we couldn’t go and buy whatever we wanted even if we had the money to do it. The rice doesn’t bother me so much (even though we eat rice at my house about 3-4 times a week)…No, it’s the possibility (or at least the thought that it may eventually become a possibility) or vision of me standing in line waiting for 2 rolls of toilet paper then going to wait in line across town for a few potatoes and some salt cod. Well, I’m not really worried about that, but you get my point.

It’s understandable, though, considering that there is violence around the world stemming from a shortage of food. I guess 80 pounds of rice will have to hold me over for now.

Read more:

http://business.timesonline.co.uk/tol/business/industry_sectors/consumer_goods/article3799327.ece
http://voanews.com/english/2008-04-24-voa17.cfm
http://allafrica.com/stories/200804240673.html

Tags: Banking & Trading · Investing

1 response so far ↓

  • 1 Surviving on Credit Cards | The Finance Blog // May 9, 2008 at 6:13 am

    [...] a country, now we’re faced with higher food prices, the most publicized food item being the high price of rice. Sorry, didn’t mean to rhyme there. It’s not [...]

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