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Global rice prices are soaring to an all-time high and the U.S. is no exception. Rice futures for July delivery at the Chicago Board of Trade have gone up 8 percent within this week and have doubled since last September.
The price peaked for a second consecutive day, boosted by soaring demand and tightening global supplies due to export restrictions from big suppliers in Vietnam and India.
Experts warn skyrocketing costs of rice, a staple food for three billion people around the world, could bring social unrest and ultimately become a threat to global security unless the price is contained.
Arirang News
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