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Rice Prices Tumble But Remain Out of Reach for Many of the Poor

This is a joint posting with Peter Timmer
Rice prices have continued to tumble this week amid reports that Cambodia is moving to ease export restrictions and other exporters may follow suit. This came after Japan's announcement that it would proceed with sales to the Philippines of 250,000 tons of rice (200,000 tons of imports and 50,000 tons of Japanese rice), and a U.S. Trade Representative (USTR) statement that: "the United States was supportive of Japan's initiative." (Readers who are following this story will recall that the U.S. has the ability to block the re-export of U.S. rice that Japan was compelled to buy but never offered on the domestic market).