Re: Biden economy prices Pacific NorthWest May 15, 2024

[Akidasar <ak@xxxxxxx>]

On 19 May 2024 08:54:37 GMT
Cindy Hamilton <hamilton@xxxxxxxxxxx> wrote:

> On 2024-05-18, Akidasar <ak@xxxxxxx> wrote:
> > On Sat, 18 May 2024 15:19:52 -0700
> > Bob F <bobnospam@xxxxxxxxx> wrote:
> > =20
> >> Funny how corporate profits are growing way faster than product
> >> prices, isn't it. =20
> >
> > Funny how you just lied through your teeth.
> >
> > https://www.rappler.com/business/high-rice-inflation-until-july-2024-ma=
rket-price-going-up/
> >
> > High rice inflation could linger until July as market prices keep
> > going up
> >
> > Prices for rice continue to climb as rice inflation stands at 24.4%
> > in March 2024,
> >
> >
> >
> > https://www.investing.com/equities/cargills-(ceylon)-ratios
> >
> > Net Profit margin TTM	2.7%=09
> >
> > https://ycharts.com/companies/BG/gross_profit_margin
> >
> > Gross Profit Margin (Quarterly) Range, Past 5 Years
> > -9.47%
> > Minimum
> > SEP 2019
> > 11.68%
> > Maximum
> > JUN 2020
> > 5.61%
> > Average
> > 6.02%
> > Median =20
>=20
> Rice inflation in the Philippines?

And elsewhere:

https://internationalbanker.com/finance/no-immediate-end-in-store-for-high-=
rice-prices/

According to the United Nations=E2=80=99 Food and Agriculture Organization=
=E2=80=99s (FAO=E2=80=99s) Rice Price Index (FARPI), the price of rice aver=
aged 141.1 points in December 2023, up 1.6 percent month-on-month and 18.6 =
percent from the previous year. It was a fitting end to a year in which pri=
ces skyrocketed to levels not seen since 2008, thanks largely to India=E2=
=80=99s rice-export ban and the impacts of El Ni=C3=B1o. And with those con=
cerns far from being allayed, the world may have to deal with prolonged=E2=
=80=94and severe=E2=80=94rice-price inflation in 2024.

Indeed, FARPI data has revealed that international rice prices averaged a s=
izeable 21.1 percent more in 2023 than in 2022. The long-grained rice varie=
ty, indica, led the rally with a 25-percent surge during the year, most rec=
ently rising by 2.6 percent in December, with the FAO noting strong Asian b=
uying sentiment, tighter supplies in Vietnam and the strengthening Thai bah=
t versus the US dollar during the year as key contributory factors. Other b=
enchmark quotations also experienced price appreciations last year, with Ja=
ponica, aromatic and glutinous rice up by 6 percent, 11 percent and 17 perc=
ent, respectively.

The bulk of this upward price surge has been largely attributed to the
July 21 export ban India implemented on non-basmati varieties of white
rice, with immediate effects. New Delhi also slapped a 20-percent duty
on parboiled-rice exports and applied an export-price floor on basmati
at $950/metric tonne (mt), with the Ministry of Consumer Affairs, Food
& Public Distribution confirming that such measures had been taken to
provide =E2=80=9Cadequate availability=E2=80=9D of rice for domestic consum=
ption and to
=E2=80=9Callay the rise in prices in the domestic market=E2=80=9D.

https://www.statista.com/statistics/236628/retail-price-of-white-rice-in-th=
e-united-states/

https://www.ers.usda.gov/webdocs/outlooks/109167/rcs-24d.pdf?v=3D3255

U.S. long-grain milled rice remains quoted at near-record levels.=20

https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?=
chartId=3D108191

Over the 2012 to 2022 period, the total cost of producing one acre of
rice increased by 36 percent. Most of the increase in cost stemmed from
an increase in operating costs of 62 percent, while allocated overhead
costs increased 6 percent. Surging fertilizer costs, which increased by
$150.75 per acre from 2020 to 2022, largely drove the increase. By
contrast, allocated overhead costs=E2=80=94a category that includes labor c=
osts
and the opportunity cost of land=E2=80=94increased by $12.09 since 2020.=20

>=20
> Cargill Ceylon?
>=20
> Bunge Global SA ?
>=20
> You really had to reach to find those numbers, didn't you?


You really had to be a lying twat to deny that the global rice market is
overpriced.

And that it had NOTHING to do with excessive corporate profits, not one
iota!

Now go lie down under the porch.