Why is everyone and his brother stocking up with rice? Sam's club had to ration it's rice to keep customers from buying it all and leaving their shelves bare. Costco has since taken the same action. While food riots are common in others countries, the U.S. has safeguards and a modernized supply chain that protects against the danger of the rising cost of food. Analyst says, "Shortage of food is unlikely."
This reminds me of 1999 when we stocked up on food and water because we thought the computers couldn't handle the coming of the year 2000. The idea seems ridiculous now but we were serious. We were afraid the stores and businesses would all be closed and there would be no food or water. I filled every nook and cranny of our house with supplies such as peanut butter, crackers, rice, cereal, canned fruits, dried fruit, dried beans, vegetables, toilet paper, detergent, and all sorts of supplies. I also saved all my milk jugs and bottles of all kinds and filled them with water. Later on when we didn't need the water, my grandson and I poured it all in the swimming pool. Of course the computers worked smoothly with nary a hitch, and we had food in plenty. However, none of my stock piles of food were wasted and it certainly helped our grocery bill for the next year or two.
That being said, the global food crisis is being felt in the United States. The primary victims are the lower income groups who are already burdened with higher rents and fuel costs. Food pantries are thinning out and corporate donations have dropped off. "This is the worst situation we have seen in 27 years." says Vickie Escarra, president and CEO of America's Second Harvest, the nation's largest food bank network. Normally the food banks feed the homeless and elderly but in recessions they pick up the jobless. According to Food Bank Executive Director Bill Bolling, almost half the people coming in have jobs but literally have to decide whether to buy food, pay a heating bill, or pay a doctor.
we've been in this situation since march of this year, price of rice increased by almost 50%, ironic it seems because Philippines is an agricultural country, it's so sad seeing people on a long queue just to buy 3-5 kls of rice