Strong demands for rice have impacted the supply provided by Bay Area stores.
San Francisco’s Costco sold 448 50lb. bags of rice over the weekend, despite their branch-enforced limit of three bags per visit. The Costco branches in both San Francisco and Richmond, California, were out of stock of 50 lb. bags of Super Lucky Elephant rice, a brand of jasmine rice. Representatives from both branches claimed they were unsure when new shipments would arrive.
The San Francisco branch of Ranch 99 is also feeling the squeeze, with 50-pound bags of sweet/glutinous rice now ranging from $42.99 to $44.99 in price.
The California Rice Commission noted in a statement how international markets have affected California’s supply of rice:
“World rice prices have risen because of several factors, including poor weather in some major production areas, such as flooding that wiped out the crop in Bangladesh and drought in Australia. Export bans in several rice producing countries further tightened the markets, considering that less than 10 percent of the world’s rice is traded internationally.
California rice prices were slower to catch up to increases seen across all grains. Higher prices are mitigated by dramatically higher production costs for farmers. Just as you or I get a little sticker shock paying $60 or $70 to gas up our car, imagine the rice farmer who’s paying $1,000 to fill up his tractor, and who has had to absorb a doubling of fertilizer costs in recent months.”
Part of the reason California was slower to see the increase in price was that the state is one of the largest producers of rice in the US, along with Arkansas, Louisiana, Mississippi, Missouri, and Texas. But Asian Americans who prefer rice produced overseas will remain anxious as international markets continue to fluctuate.
Bay Area Rice Price Roundup
Costco:
Richmond: $23.99 for a 50 lb. bag of Super Lucky Elephant Jasmine White Rice
San Francisco: $21.99 for a 50 lb. bag of Super Lucky Elephant Jasmine White Rice
Ranch 99
Fremont:
$44.99 for a 50 lb. bag of Three Lady Thai Sticky White Rice
$42.99 for a 50 lb. bag of Butterfly Thai Sticky White Rice
