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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Taiwan battles to stabilise rice prices AFP - Thursday, February 17 Send IM Story Print Taiwan battles to stabilise rice prices TAIPEI (AFP) - – Taiwanese authorities plan to inject tens of thousands of rice into the market next month in a bid to stabilise domestic prices, officials said Wednesday. The move came as World Bank president Robert Zoellick warned food prices rose by 15 percent between October and January, pushing 44 million people into poverty in developing countries since June last year. The pinch has been felt in Taiwan where prices of corn, mostly imported from the United States and a major ingredient in animal feed, have surged 27 percent during the same period, pushing up meat prices. To help reduce the cost of local livestock and poultry, the Council of Labour Affairs said that up to 65,000 tonnes of rice would be released from its inventory for sale to local animal farmers in March. "This step is part of the government's efforts to stabilise domestic consumer prices," Yu Sheng-feng, deputy chief of the council, told AFP. Although Taiwan's consumer prices have remained relatively stable, the island has felt the knock-on effect of drastic global fluctuations, with the economy heavily reliant on imports of various commodities. The pressure posed by mounting prices prompted President Ma Ying-jeou to order government agencies to adopt countermeasures, including reducing import duties and cracking down on hoarders. Recommend Send IM Story Print Related Articles India bond yields ease with food inflation; oil weighs Reuters - 37 minutes ago China purchase mission spends $1.45 bln in Taiwan AFP - 45 minutes ago Sinopec, NIOC in 1st term deal of condensate -source Reuters - 51 minutes ago Russia tycoon Kerimov buys into VTB, eyes Sberbank-paper Reuters - 52 minutes ago BRIEF-Moody's assigns Aa2 to J-Power's Japan bonds Reuters - 52 minutes ago News Search Top Stories Thawing permafrost may speed global warming: study William and Kate to tour Canada after wedding Clashes erupt as Libya braces for 'Day of Anger' Want to feel the love? Text 5683 Stress blocker helps bald mice regrow hair More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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