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Been There, Taught That
Joined: 10 Apr 2007
Location: Mungyeong: not a village, not yet a metroplex.
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 Posted: Sat Apr 26, 2008 12:51 pm Post subject: Rice and oil and flour happenings |
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Here's an article I found and a quote from it:
http://www.nysun.com/news/national/costco-ceo-faults-press-hype
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| The New York Sun set off a week-long frenzy of press attention with a report on Monday that several Costco stores had imposed buying limits on rice, flour and cooking oil. The article, which came as news spread of food related unrest in other parts of the world, led to stories on local and national television and was featured in newspapers as far away as India. |
Interesting, because I know Costco operates in SK.
What's the rice situation? As an incoming teacher bringing my wife and daughter, that will obviously be a concern. I agree with what the CEO said: the media can have a controlling influence over the kind of consumer reaction to any situation, and, as a previous article said, many of their rice customers are Asians who buy large quantities.. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Apr 26, 2008 2:56 pm Post subject: Re: Rice and oil and flour happenings |
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| Been There, Taught That wrote: |
Here's an article I found and a quote from it:
http://www.nysun.com/news/national/costco-ceo-faults-press-hype
| Quote: |
| The New York Sun set off a week-long frenzy of press attention with a report on Monday that several Costco stores had imposed buying limits on rice, flour and cooking oil. The article, which came as news spread of food related unrest in other parts of the world, led to stories on local and national television and was featured in newspapers as far away as India. |
Interesting, because I know Costco operates in SK.
What's the rice situation? As an incoming teacher bringing my wife and daughter, that will obviously be a concern. I agree with what the CEO said: the media can have a controlling influence over the kind of consumer reaction to any situation, and, as a previous article said, many of their rice customers are Asians who buy large quantities.. |
No worries mate.
Globally the price of rice to the consumer WAS, at a retail level, about 60 cents (US) per kilogram. With the shortages that price has risen to almost $1 per kilo. This has caused problems in many 3rd world countries because it has priced this commodity out of the reach of many consumers who depended on it for their daily caloric intake.
In Korea, we already pay 3x the global price because of closed markets and import restrictions. There has not been and there is not expected to be any change in the supply or cost of rice for the consumer market.
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ryouga013
Joined: 14 Sep 2007
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| Posted: Sat Apr 26, 2008 4:08 pm Post subject: Re: Rice and oil and flour happenings |
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| ttompatz wrote: |
| In Korea, we already pay 3x the global price because of closed markets and import restrictions. There has not been and there is not expected to be any change in the supply or cost of rice for the consumer market. |
Japan has it even stricter on the imports... man, a simple 2kg bag of rice from some random region in Japan at any normal grocery store is still over W10,000 most of the time... it was really ridiculous coming from the states and paying about W8000 for an 11kg bag. |
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