Skyrocketing rice prices have forced retail giants Sam’s Club and Costco to limit sales of large quantities of rice.
In a statement by Sam’s Club officials, the store will limit customers to four 20-lb. bags of jasmine, basmati and long-grain white rice. The restrictions will mainly affect businesses that buy rice in bulk.
“We currently have plenty of rice for Sam’s Club members,” the statement continued. “This temporary restriction does not apply to retail-sized rice for sale in Sam’s or elsewhere at Wal-Mart stores.”
Last week, Costco limited bulk rice purchases in some of its stores.
The move comes as rice prices hit near historical levels, rising by around 75 percent globally or more in some markets.
Experts say the warehouse chains may be reacting to stockpiling by restaurants and small stores, and say there is no shortage of rice in the U.S.
According to Nathan Childs, an economist and rice expert with the U.S. Department of Agriculture, U.S. production of long grain and medium grain rice is strong, and the global crop is larger than ever.
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