Listening to Sec. Yap
Isidro Ramos
23 Mar 2008
In your article, “Pangasinan is sleeping agricultural giant” by Sec Yap is unsettling. Agriculture Secretary Arthur Yap has reiterated that remark and called on the province, particularly the agriculture sector, to stop wasting its time slumbering and snoring in dreamland. To back his word, here’s a concise copy of a report from Wall Street Journal, dated March 21, 2008.
“This is no joke, already, in Asia. Rice prices surged to a 20-year high this week — more than $18 per hundred pounds — as countries that have the most are hoarding it for their own people. Vietnam, India and Egypt have restricted exports to keep local markets stocked. Thai, Philippine and Indonesian officials are warning of civil unrest if the flow of rice does not increase.
Shortages are real. The Financial Times reports that rice stocks have fallen this year to about 70 million tons, the lowest level in 25 years and less than half the total held in global inventories in 2000. Wheat inventories, called “carry-overs” in the trade, are at 30-year lows even though world wheat production was actually up 1% last year. In the past year, reports show, wheat inventories in the European Union have plunged to 1 million tons from 14 million tons”.
The only hope is people at the helm are listening to Sec. Yap. Happy Easter!
Share your Comments or Reactions
Powered by Facebook Comments
