On 19 May 2024 08:54:37 GMT
Post by Cindy HamiltonPost by AkidasarOn Sat, 18 May 2024 15:19:52 -0700
Post by Bob FFunny how corporate profits are growing way faster than product
prices, isn't it.
Funny how you just lied through your teeth.
https://www.rappler.com/business/high-rice-inflation-until-july-2024-market-price-going-up/
High rice inflation could linger until July as market prices keep
going up
Prices for rice continue to climb as rice inflation stands at 24.4%
in March 2024,
https://www.investing.com/equities/cargills-(ceylon)-ratios
Net Profit margin TTM 2.7%
https://ycharts.com/companies/BG/gross_profit_margin
Gross Profit Margin (Quarterly) Range, Past 5 Years
-9.47%
Minimum
SEP 2019
11.68%
Maximum
JUN 2020
5.61%
Average
6.02%
Median
Rice inflation in the Philippines?
And elsewhere:
https://internationalbanker.com/finance/no-immediate-end-in-store-for-high-rice-prices/
According to the United Nations’ Food and Agriculture Organization’s (FAO’s) Rice Price Index (FARPI), the price of rice averaged 141.1 points in December 2023, up 1.6 percent month-on-month and 18.6 percent from the previous year. It was a fitting end to a year in which prices skyrocketed to levels not seen since 2008, thanks largely to India’s rice-export ban and the impacts of El Niño. And with those concerns far from being allayed, the world may have to deal with prolonged—and severe—rice-price inflation in 2024.
Indeed, FARPI data has revealed that international rice prices averaged a sizeable 21.1 percent more in 2023 than in 2022. The long-grained rice variety, indica, led the rally with a 25-percent surge during the year, most recently rising by 2.6 percent in December, with the FAO noting strong Asian buying sentiment, tighter supplies in Vietnam and the strengthening Thai baht versus the US dollar during the year as key contributory factors. Other benchmark quotations also experienced price appreciations last year, with Japonica, aromatic and glutinous rice up by 6 percent, 11 percent and 17 percent, respectively.
The bulk of this upward price surge has been largely attributed to the
July 21 export ban India implemented on non-basmati varieties of white
rice, with immediate effects. New Delhi also slapped a 20-percent duty
on parboiled-rice exports and applied an export-price floor on basmati
at $950/metric tonne (mt), with the Ministry of Consumer Affairs, Food
& Public Distribution confirming that such measures had been taken to
provide “adequate availability” of rice for domestic consumption and to
“allay the rise in prices in the domestic market”.
https://www.statista.com/statistics/236628/retail-price-of-white-rice-in-the-united-states/
https://www.ers.usda.gov/webdocs/outlooks/109167/rcs-24d.pdf?v=3255
U.S. long-grain milled rice remains quoted at near-record levels.
https://www.ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=108191
Over the 2012 to 2022 period, the total cost of producing one acre of
rice increased by 36 percent. Most of the increase in cost stemmed from
an increase in operating costs of 62 percent, while allocated overhead
costs increased 6 percent. Surging fertilizer costs, which increased by
$150.75 per acre from 2020 to 2022, largely drove the increase. By
contrast, allocated overhead costs—a category that includes labor costs
and the opportunity cost of land—increased by $12.09 since 2020.
Post by Cindy HamiltonCargill Ceylon?
Bunge Global SA ?
You really had to reach to find those numbers, didn't you?
You really had to be a lying twat to deny that the global rice market is
overpriced.
And that it had NOTHING to do with excessive corporate profits, not one
iota!
Now go lie down under the porch.