Emil Amok » Are you hoarding rice?

Are you hoarding rice?

My family is half-Filipino, half-Caucasian.

Here’s one good thing about my family of Caucapinos:

We eat half the amount of rice as the normal Asian American family.

So I’m not experiencing the same rice woes as some others.

I started hearing about empty rice shelves at places like Costco and Sam’s Club last week. My friend was told at one such place that “someone had bought the entire inventory.” The reports of the world shortage is starting a buying panic here, which has led to the purchase limits.

There is, of course, no reason to believe that world hunger in Asia, or anyplace in the world, has anything to do with the price of rice at your local Costco. (By the way, I am no longer a member of Costco or any warehouse stores because it’s impossible to get out of there for under $300 a trip. I suppose that’s now $600. Costco was “Spendco” for me).

So why all the hoarding here, mostly by Asian Americans?

Are you re-selling it on E-Bay? Or is this the Asian version of the Idaho survivalist holed up in his cabin with everything he needs just in case the nation is overtaken by evil?

http://online.wsj.com/article_print/SB120898033931039125.html

Comments

I suppose it would have something to do with one’s tendency to stock up when prices are surging. Two weeks ago, the price for a 50 lb. bag of rice in Chinatown was $20, it has now gone upwards of over $50. Honestly, with all the rice my family of five consumes weekly, I’d be an idiot not to hoard.

–Jessica L. on Apr 24, 2008
But to prevent idiocy, you inadvertently spike demand causing prices to rise.

Meanwhile, supply of rice in the U.S. is not an issue, until worried consumers here trying not to idiots race to their stores and buy rice at all costs.

Someone is manipulating us.

My suggestion? Eat more noodles.

–Emil

–Emil on Apr 25, 2008

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