Rice prices are up at Eugene area stores and restaurants.
Story Published:
Apr 24, 2008 at 5:44 PM PDT
EUGENE, Ore. -- Rice suppliers say there is no rice shortage, but that's not stopping a run on rice.
Gary Hanamoto is stocking up on rice at Sunrise Market.
"I just figured I better get another bag," he said. "I don't go through it very fast. Six months from now, who can tell what's happening."
He heard about the sharp increase in international rice prices and expects California rice will follow.
"That's why I decided to sneak in before," Hanamoto said. "I know it's going to go up."
Jasmine rice is the most popular at Sunrise Market. It's not supply that's the issue, but the price: up $15 since the last shipment.
So many people are stockpiling against fears of soaring rice prices. Stores like Costco and Sam's Club started rationing supplies.
The local Costco said they are not limiting purchases, but the store's 50 pound bags sold out in an hour and a half. The next shipment is only 50 bags, down from an anticipated 250.
Cafe Yumm restaurant relies on rice. The local chain just learned the price of jasmine rice is up 34 percent.
"We're going to try to maintain our prices for as long as possible," said Ed Gerdes, vice president of Cafe Yumm. "We know people are hurting with all kinds of price increases."
Some Thai restaurants have tacked on an extra 75 cents to sides of rice.