This paper analyzes price formation on the world's rice market using simple supply and demand models as a start, but moving to "supply of storage" models - a staple of commodity-market analysis for more than half a century - to explain hoarding behavior and its subsequent impact on prices. The...

Rice production in Africa has tended to be low-yielding, geographically dispersed, and uncompetitive against low-cost Asian imports, even when protected by high freight costs and substantial trade barriers. Skyrocketing prices in world markets in 2007-08 were a shock to African consumers,...