Rice Economic Indicators

Not talking about any sort of economic forecasts from Condeleeza Rice. Nope. Just going for the Uncle Ben's variety.

According to today's Wall Street Journal:

The global commodities boom that has lifted prices of everything from gasoline to gold is now elevating rice -- a staple food for half of the world -- to its highest level in nearly 20 years.

Rice's surge has complex consequences for the global economy. Used in everything from sushi to burritos to Rice Krispies, the ubiquitous grain is suffering poor harvests and tight supplies in some of the biggest rice-exporting and rice-consuming nations, just as demand grows in places like India and the Philippines.

The higher price is a boon for some farmers and investors. But at the same time, it is expected to contribute to a protracted bout of food-price inflation for the foreseeable future, which could widen the rift between the world's haves and have-nots.

Sealing the deal that rice is the "next big thing," the article goes on to say that now non-traditonal players, like hedge funds, are starting to trade in rice.

Hedge funds trading in rice? Hafta wonder if they place more value on brown rice versus white...Hmm...And, how much is that leftover Chinese Pork Fried Rice in my fridge worth?