Rice price fall on word of new exports

05/16/2008 | Bloomberg1

The freeing of new export supplies from Pakistan and Japan eased worries about a worsening shortage and chewed into record high prices for the grain. Rice prices fell for a fifth day Friday, pointing to the biggest weekly decline since 2004. Rough rice for July delivery fell as much 5% on the Chicago Board of Trade to its lowest price since April 2.

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