""Rice is a political commodity," said Kwanchai Gomez, the executive director of the Thai Rice Foundation, a research center. "It's not only an economic one."
Arroyo, the Philippines' president, and many other leaders across the region have blamed hoarding by traders and millers for the price increases. Thai Grade B rice, a widely traded variety, reached $854 per ton last week from $322 a year ago, a rise that appears speculative as much as driven by market fundamentals." (Thanks Yaz)