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Commodities Trading: Not-so-free rice

Posted May 1, 2008

“On April 1, 2008, I landed in the second-largest rice-exporting nation in the world. This wasn’t always the case, though.” — Sara Nunnally

by Sara Nunnally

Baltimore – (TFN): Vietnam’s rice industry came out of nowhere. The Economist has a neat article titled, “From Basket Case to Rice Basket” that you might find interesting. I highlight it now because it’s exactly what I found on my trip to Vietnam.

On April 1, 2008, I landed in the second-largest rice-exporting nation in the world. This wasn’t always the case, though. Vietnam is a communist country that, up until recently, practiced farm collectivization. In other words, most of Vietnam’s crops went to the government first.

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But since that policy has been reformed, Vietnam has hit the main stage, and is now second only to Thailand in rice exports.

Commodities Trading: Rice still on the rise

It’s a perfect time to be talking about rice, too, with prices skyrocketing. I’m sure you’ve read the articles… In March, food prices were 30% higher than they were a year ago. Read on to learn more and view a chart of rice exports.

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Posted by Sara Nunnally · Filed Under Gold and Resources 

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