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View Poll Results: Do you stock up on necessities?
No. I think we have sufficient supplies locally. You are overly paranoid. 9 40.91%
Yes. About 1 month. 10 45.45%
Yes. More than 3 months. 3 13.64%
No. There is no need to. I own a FARM! 0 0%
Voters: 22. You may not vote on this poll

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Old 18-06-2012, 04:08 PM
Koala Koala is offline
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Join Date: Feb 2012
Posts: 118

World population is exploding! And years down the road we may have to fight for limited resources amongst ourselves and with others from other parts of the world.

I wonder where will be the place of precious metals at that point of time then? There is alot of speculation on this issue on U tube.

Some said its good to hedge up on food and some basic essentials now, some said by the time it happen, our food already rot so there is a need for precious metals for trading purpose.

I choose to believe the latter. But then I may be old and dying by the time world famine happens.
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Old 18-07-2012, 11:36 AM
messagermanxxoo messagermanxxoo is offline
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Join Date: Jun 2012
Location: sengkang
Posts: 302
Default Stocking up supplies

I buy about month of supplies. I dont really check it often. Preparing for a crisis?
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Old 11-08-2012, 08:15 PM
moyyewhon moyyewhon is offline
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Join Date: Dec 2011
Posts: 1,424

Cities don't keep emergency stockpiles of food and other goods anymore

Jake Nickell
Modern cities only keep around three days worth of food for its population on hand.
Advanced economies use incredibly efficient "Just-In-Time" logistics systems because they can track real time demand for goods automatically from check-out counters to factories who can adjust to these changing signals.
The danger of "Just-In-Time" logistics is that there isn't a lot of inventory available for emergency situations.

Read more:
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Old 11-08-2012, 09:47 PM
Roborovskii Roborovskii is offline
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Join Date: Nov 2008
Posts: 832

Locally we have approx 3 month supply of rice based on average consumption (2 months in stockpile + 1 month at distributor stores). I do not believe we stockpile any other food. During a crisis, the 2 month stockpile will be rationed by the govt. You can then expect a "black-market" for rice to appear at insane prices. Everything else is J-I-T as you have linked above.
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Old 14-08-2012, 09:26 AM
Roborovskii Roborovskii is offline
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Join Date: Nov 2008
Posts: 832
Default China to release corn, rice from reserves

China to release corn, rice from reserves

China will release corn and rice from state reserves to help tame inflation and reduce imports as the worst US drought in half a century pushes corn prices to global records, creating fears of a world food crisis.

Friday's announcement was the first release since September last year, when China said it would sell 3.7 million tons of state corn to keep inflation under control.

The release may prompt Chinese importers to cancel shipments in the near term and take some pressure off international corn prices, which set a new all-time high on Friday as the US government slashed its estimate of the size of the crop in the world's top grain exporter.

"Bottom line - rationing is in full force, and given the continually declining state of the US corn crop, more will be needed," said Christopher Narayanan, head of agricultural commodities research at Societe Generale.

China's State Administration of Grain did not specify the volume of corn or rice to be released from reserves. The Grain Reserves Corp will be responsible for selling the crops, but no details were given on the timing.

Some traders estimated the government might sell around 2 million tons to help stabilize prices ahead of the harvest, when supply is usually tight.

Beijing will probably need to replenish reserves towards the end of the year, and therefore the release will have only a limited impact on prices.

"It can help stabilize the market somewhat, but the volume is too small compared with the 10 million to 15 million tons of monthly consumption nationwide," said Xu Wenjie, an analyst with Zheshang Futures Co.

Domestic corn futures on the Dalian Commodity Exchange have risen 12 percent this year to around 2,400 yuan ($380) on Friday, just off the year-high of 2,429 yuan touched on July 16.

A report by the US Department of Agriculture (USDA) on Friday raised its forecast for China's corn crop this year by 2.5 percent to 200 million tons.

"With USDA raising its Chinese corn production estimate ... it certainly makes sense to release some corn from reserves," Narayanan said, noting that the USDA also cut its estimate of Chinese corn imports by 3 million tons to 2 million.
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