Sam's Club Limiting Sales of Rice Due to Supply and Demand Challenges
Wal-Mart Stores, Inc's Sam's Club warehouse division said yesterday it is limiting sales of Jasmine, Basmati, and long grain white rice, "due to recent supply and demand trends."
Sam's Club said it is limiting sales of the rice varieties to four bags per customer per visit, and it is working with its suppliers to ensure the products remain in stock.
The announcement came a day after Costco Wholesale Corp. said it had seen increased demand for items like rice and flour, since customers who are worried about global food shortages have begun stocking up.
Sam's Club said it is not limiting sales of flour or cooking oil at this time.
Costco, meanwhile, said some of its stores had put limits on sales of items such as rice and flour, but it was trying to modify those restrictions to meet customer demand.
Rice prices in the United States and around the world have more than doubled in the last year, according to reports, and U.S. rice futures rose to an all-time high yesterday on worries about supply shortages.
Sam's Club said it is limiting sales of the rice varieties to four bags per customer per visit, and it is working with its suppliers to ensure the products remain in stock.
The announcement came a day after Costco Wholesale Corp. said it had seen increased demand for items like rice and flour, since customers who are worried about global food shortages have begun stocking up.
Sam's Club said it is not limiting sales of flour or cooking oil at this time.
Costco, meanwhile, said some of its stores had put limits on sales of items such as rice and flour, but it was trying to modify those restrictions to meet customer demand.
Rice prices in the United States and around the world have more than doubled in the last year, according to reports, and U.S. rice futures rose to an all-time high yesterday on worries about supply shortages.