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Should Shoppers Hoard Rice?

April 24, 2008 RSS Feed Print

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With Sam's Club and Costco stores limiting how much rice customers can buy, shoppers are asking themselves: Should I stock up on the staple? After watching a news report on the rationing last night, I suggested to my husband that we should go buy several bags of the grain. He immediately made fun of me for wanting to hoard something that was not actually in short supply.

In this case, my husband is right. There is no need to stock up, because there is no shortage in the United States. (There are concerns about rice shortages in other countries, including India and the Philippines.)

There is, however, above-average price inflation going on for all kinds of food, which makes it more important to focus on cutting grocery costs—not adding to them by buying more rice than necessary.

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It makes more sense to "hoard" a commodity that isn't in short supply now, assuming you will use it eventually and it won't go bad. If you wait until it is genuinely in short supply here, hoarding it at that time could cause genuine problems. Hoarding it now won't cause anyone to go hungry, and it's a little inflation hedge/insurance policy for you and your family.
Storing rice now for future consumption would increase your grocery costs now, but lower them in the long run if inflation continues.

Sara R of UT 6:19PM May 09, 2008

With the rice that comes from Thailand, the flavor is so much different. Sure, there will be plenty of American grown rice. For those that do not have refined taste buds to even know the difference when they eat it, then don't stock up on rice. For those that know the difference and taste the difference, American rice is only good for stir fry. It really tastes horrible for steamed rice. California short grain calrose rice is in good supply. Texas long grain rice is in good supply. However, for those of us that consume 1/2 their diet in steamed rice with every meal I am not willing to settle for long grain American rice. Currently, I just purchased 100 lbs of long grain Thai jasmine rice for my family. We eat mostly Asian foods in this house. I am not willing to eat a lower quality rice.
So, in one way you are right, but.... I feel so much better knowing we have a stockpile to get us through the year of decent tasting rice before prices double or triple.

Charity of WA 4:53PM April 24, 2008

Ken - do eggs seem too expensive? I know they have gone up in price, but they are still only around 25 cents an egg... not a bad deal compared to meat, for example.
Veronica- you're right, no need to worry for those of us who stick to 3-serving size containers... the limits were on the bulky purchases!

Kimberly Palmer of 4:24PM April 24, 2008

Should Shoppers Hoard Rice?

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