Burma cyclone raises rice prices

Rice prices have risen for a sixth consecutive day as global supplies continue to be stretched by cyclone damage to crops in Burma.

With worldwide demand also at a record high, the cost of rice rose as much as 5.1% to $23.45 per 100lb in electronic trading on the Chicago Board of Trade.

Cyclone Nargis hit Burma on 3 May, killing tens of thousands of people in the main rice-producing areas.

Read Full Article from BBC News

- Posted: 2008-05-09 08:44:40

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