U.S. rice futures hit an all time high this week, and the price of rice has more than doubled on international markets over the last year. As a result of shortages abroad, major chains like Walmart’s Sam Club (WMT) and Costco (COST) are limiting the amount of purchasable grain available to each customer.
But don’t panic just yet. TheStreet.com’s Simon Constable took to the street to assuage fears, giving away bags filled with the increasingly rare kernels. Turns out New Yorkers aren’t too concerned that this diet staple might become increasingly scarce or more expensive. In the last year the price shoppers pay for rise has increased by 8%. But is that a change significant enough to prompt passers-by to scoop up a free bag? Apparently, not.