New rice crisis cannot be ruled out

PHILIPPINES: A repeat of the 2008 rice crisis that led to riots in the developing world cannot be ruled out as the cost of other agricultural goods surge, a research group has warned.

The International Rice Research Institute said the global rice market was delicately balanced as the grain had managed to avoid huge price rises.

The cost of wheat surged 121 percent over the eight months to February, maize jumped 92 percent and sugar 80 percent higher due to bad weather and rising global demand for commodities. AFP