The New Resource Crisis

Everyone knows about OPEC, the cartel of petroleum-producing nations that has manipulated oil prices and production for years, but if Thailand has its way there will be a cartel for rice producing nations. The interest in a rice-producer’s cartel highlights a new resource crisis that is upon the world, that of food. Over the past year food prices across the world have skyrocketed, with rice prices rising 74 percent and wheat prices going up 130 percent. The origin for much of the rising prices is the increasing world populations, as well as increasing incomes in developing countries, leading to higher demands for meat products, which require grain for feed.