Rice – A simple economic lesson

OK, I’m not an economic student and know nothing much about economics.
But here is something I do know regarding the recent rice issue. (Do correct me if I’m wrong)
Rice importers mark up the price of rice as it cost more to bring in rice.
Due to fear of shortage of rice plus the increasing price of rice, everyone buy more rice.
As everyone buy more rice, the already low supplies went even lower.
As there is higher demand and lower supply, the price of rice (which was already higher than usual) went higher.
And the cycle goes on and on.
Everyone….. No rice can eat noodles. No noodles can eat potato.
Worst come to worst we go eat grass! (OK, just kidding on the grass part)
We won’t die without rice. Stop stocking up on rice and pushing the price of rice higher.
Oh, since we are on the topic of rice, are you still playing Free Rice Game? For every word you get right, they will donate 20 grains of rice to UN world food program.

4 comments

  1. I also don’t understand why must eat rice.
    My kitchen got no rice for at least the past 5 years. 🙂
    No rice, still can eat noodle, roti, mee hoo, pasta and lots of alternative ..

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