CostCo - As Inflation Rises, Food Hoarding Begins
strabo
April 22, 2008
CostCo (COST): As Inflation Rises, Food Hoarding Begins
Shoppers are raiding CostCo (COST) for rice and wheat. At least the are
paying for it, for the time being anyway.
The discount retailers CEO says that "enough is enough". CostCo is
prepared to ration the commodities so that the chain does not come up
short in a real emergency. James Sinegal, Costco's chief executive
officer, told Reuters, If a customer came in and said, "I want 10
pallets of flour, we'd probably say, 'No, we can't give you that. We can
give you one pallet'."
With the price of some food up by three times over the last year perhaps
customers only want to get a little bit ahead of the curve. Those are
the same shoppers who are building bomb shelters.
Douglas A. McIntyre
http://www.247wallst.com/2008/04/costco-cost-as.html
The NY Sun says that Costco has resorted to "rationing" bags of rice in
California and flour and oil in New York due to limited supply:
The bustling store in the heart of Silicon Valley usually sells
four or five varieties of rice to a clientele largely of Asian
immigrants, but only about half a pallet of Indian-grown Basmati rice
was left in stock. A 20-pound bag was selling for $15.99.
"You can't eat this every day. It's too heavy," a health care
executive from Palo Alto, Sharad Patel, grumbled as his son loaded two
sacks of the Basmati into a shopping cart. "We only need one bag but I'm
getting two in case a neighbor or a friend needs it," the elder man said.
The Patels seemed headed for disappointment, as most Costco members
were being allowed to buy only one bag. Moments earlier, a clerk dropped
two sacks back on the stack after taking them from another customer who
tried to exceed the one-bag cap.
"Due to the limited availability of rice, we are limiting rice
purchases based on your prior purchasing history," a sign above the
dwindling supply said.
Shoppers said the limits had been in place for a few days, and that
rice supplies had been spotty for a few weeks. A store manager referred
questions to officials at Costco headquarters near Seattle, who did not
return calls or e-mail messages yesterday.
An employee at the Costco store in Queens said there were no
restrictions on rice buying, but limits were being imposed on purchases
of oil and flour. Internet postings attributed some of the shortage at
the retail level to bakery owners who flocked to warehouse stores when
the price of flour from commercial suppliers doubled.
Rice prices have skyrocketed in the past few months. Marketplace says
prices are up 60-70%:
International demand is greater than the supply of available rice.
That's led several key rice-growing countries to impose export
restrictions — resulting in even tighter supplies. Prices are also being
driven by some of the same forces boosting all commodities — a weak
dollar and high fuel prices.
Are the high rice prices hitting your home?
<
http://consumerist.com/382141/costco-one-bag-of-rice-per-customer-please
>
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"The Rifleman"
the US to Hiati, India, parts of africa, indonesia, asia parts of eastern
europe etc, I think its time to get back on topic for a while.
"strabo" <str...@flashlight.net> wrote in message
news:1208898778_428@isp.n...
garlicman
> CostCo (COST): As Inflation Rises, Food Hoarding Begins
>
> Shoppers are raiding CostCo (COST) for rice and wheat. At least the are
> paying for it, for the time being anyway.
>
> The discount retailers CEO says that "enough is enough". CostCo is
> prepared to ration the commodities so that the chain does not come up
> short in a real emergency. James Sinegal, Costco's chief executive
> officer, told Reuters, If a customer came in and said, "I want 10 pallets
> of flour, we'd probably say, 'No, we can't give you that. We can give you
> one pallet'."
>
> With the price of some food up by three times over the last year perhaps
> customers only want to get a little bit ahead of the curve. Those are the
> same shoppers who are building bomb shelters.
>
> Douglas A. McIntyre
>
>
> http://www.247wallst.com/2008/04/costco-cost-as.html
>
This is just people getting jumpy. Food prices have hardly risen enough for
many people to notice. Perhaps going out for dinner three times a week
instead of four, and only five lattes a week instead of nine. All that crap
adds up.
When a loaf of bread is $20 and a 25# of rice is $180, you'll see some
hoarding then.
Bob Brock
effort to stay on topic there anyway. Misc.survivalism, I kind of
doubt that it will ever return to being mostly on topic.
"The Rifleman"
"Bob Brock" <bbr...@i-americia.net> wrote in message
news:aens041m6ag5st33s...@4ax.com...
> In alt.survival, I agree with you. However, I make a concentrated
> effort to stay on topic there anyway. Misc.survivalism, I kind of
> doubt that it will ever return to being mostly on topic.
>
thing turn out.
Bob Brock
OK, I'll hang out with you for awhile and see where it goes.
"The Rifleman"
Hopefully it will settle down a bit if we can get the opprice of oil down a
bit, but currently its at $119.37 a barrel and thats killing everyone, even
in the US and UK food and fuel prices are rising, so imagine whats going on
south of the Rio Grande, and south of the Mediterain there soon could be a
lot of hungry people heading our way.
Bob Brock
<surv...@northland.com> wrote:
>
>"Bob Brock" <bbr...@i-americia.net> wrote in message
>news:gons04tu547d53ql4...@4ax.com...
>> On Tue, 22 Apr 2008 22:54:49 +0100, "\"The Rifleman\""
>> <surv...@northland.com> wrote:
>>
>>>
>>>"Bob Brock" <bbr...@i-americia.net> wrote in message
>>>news:aens041m6ag5st33s...@4ax.com...
>>>> In alt.survival, I agree with you. However, I make a concentrated
>>>> effort to stay on topic there anyway. Misc.survivalism, I kind of
>>>> doubt that it will ever return to being mostly on topic.
>>>>
>>> I'm gonna play safe and stop playing silly buggers until I see which way
>>>thing turn out.
>>
>> OK, I'll hang out with you for awhile and see where it goes.
>
>Hopefully it will settle down a bit if we can get the opprice of oil down a
>bit, but currently its at $119.37 a barrel and thats killing everyone, even
>in the US and UK food and fuel prices are rising, so imagine whats going on
>south of the Rio Grande, and south of the Mediterain there soon could be a
>lot of hungry people heading our way.
>
I heard on the radio the other day that the government expects a large
influx of starving Haitians coming across the border to the United
States.
strabo
> Theres far to many of these articles coming to light, and its running from
> the US to Hiati, India, parts of africa, indonesia, asia parts of eastern
> europe etc, I think its time to get back on topic for a while.
>
And what topic would that be? Trivial banter? Insults and verbal
pissing contests?
So to you food shortages are not a survival topic. Well, they are
on topic. You think not talking about the 900 pound gorilla in the
kitchen will make it go away? We've been watching the nuts loosen on
the international monetary machine for several years and recently
several have fallen off. It's time to rally the troops and make plans
for resource acquisition. It's time for misc.survivalism to dispense
with the BS and get down to business.
You sound a bit scared. Maybe you better take the year off.
Go to Spain.
strabo
Lag time in inventory, distribution and pricing. The indicators are
lighting up. Over the next few years products will generally become
more expensive and some will not be available.
If it is critical get it now.
>
> When a loaf of bread is $20 and a 25# of rice is $180, you'll see some
> hoarding then.
>
That'll be too late for "hoarding". It's never too early for
preparation.
terryc
> Theres far to many of these articles coming to light, and its running from
> the US to Hiati, India, parts of africa, indonesia, asia parts of eastern
> europe etc, I think its time to get back on topic for a while.
The problem with all these news reports is that the news media just love
a good panic story and you don't know whether all the old "starving people
in Africa" stories are now being "starving people from rising food prices"
and the extra stories that didn't get a run are now seen as topical.
terryc
>
> Lag time in inventory, distribution and pricing.
The only lag time here is really ship delivery time or the storage of
seasonal crops where they are not exported.
OTOH, I've never know any major retailer to delay raising prices if
they thought they could get away from it.
strabo
Manufacturers and distributors of refrigerators, washing machines,
autos, etc., plan floor layout, inventory, financing and advertisements
months in advance. It's a complex operation. Price changes are
figured into the next cycle.
We should see price increases in all items by fall.
Tim May
<newssixs...@woa.com.au> wrote:
A couple of decades ago one of the late night American talk show hosts
made a joke about how toilet paper was vanishing from supermarket
shelves.
Voila, or as the "loosers" might say, Viola, the next several days saw
a run on TP.
As the Costco article said, many buyers were switching purchases to
Costco for restaurants and suchlike because their own suppliers had
raised prices and Costco had been too slow to respond.
(I happen to know that Mountain View Costco pretty well. Even though I
live about 50 miles south, I get over to Silicon Valley a few times a
month. I know that locale because it's near an REI outdoor store I
like, and an In-N-Out. A lot of Asian restaurant owners buy rice and
staples at whichever stores have the best prices, be they Smart and
Final, Costco, or Sysco (not Cisco). This is why the stories are of
Asian shoppers being told they cannot buy a pallet of rice. This is not
survivalist shopping for a family, this is just restaurant owners
overbuying at a store that has lower prices than other suppliers are
offering. Duh.)
For survival-level storage, pallets of 50-pound sacks of rice are not
an issue (unless one is buying for a large group). These are
run-of-the-mill shortages for restaurants.
Get real, folks. Stop fantasizing about how people will be drinking dog
piss out of rusty hubcaps.
--Tim May
Coffee's For Closers
news:1208898778_428@isp.n...
> >> The NY Sun says that Costco has resorted to "rationing" bags of rice in
> >> California and flour and oil in New York due to limited supply:
> >> "Due to the limited availability of rice, we are limiting rice
> >> purchases based on your prior purchasing history," a sign above the
> >> dwindling supply said.
That line sounds interesting. My understanding is that, Costco
is a members-only store. So your entire "prior purchasing
history" is on file, since the day you joined.
So I wonder what the rationing criteria are?
For example, are they looking to see if you came in several times
in a day (maybe walking straight back in from the carpark where
you loaded the last purchase into your vehicle five minutes ago)?
Are they looking to see if you are trying to buy a moderate
amount, twice a week?
More interestingly, are they comparing historical velocity?
Like, over the past couple of years, you only bought enough rice
(and other supplies) to support two people. But now, your
shopping is at the same time interval, but suddenly buying
amounts that would be normal for a family of six?
Thus, the person who was already buying for a real
six-person family might still get approved for their high
quantities. While the couple (or single individual who was
buying double), who now tries to stock up, might trip the
red-flag for hoarding, and be subjected to limits?
Mabye Customer A has previously bought nappies or other
child-specific products, thus indicating a family with more
mouths to feed each week. While Customer B has never bought
kids' stuff, and is thus suspected of being an individual
hoarder.
Perhaps they have some sort of consumer marketing database
cross-referencing (like MetroMail) to try to figure out which
store members/customers have families, and which don't? Or
perhaps they have surveys (with a small token coupon for filling
it out) that ask such things?
That is how true, gubmint-mandated rationing would work.
Requiring documentation of how many people you are shopping for.
With registration and personal accounts for everybody.
But it could start in more subtle ways. And apparently already
has.
--
Want Privacy?
http://www.MinistryOfPrivacy.com/
Tim May
Millions in Africa and other Turd World hellholes are unable to buy
food at the (often subsidized) prices they once were (barely) able to.
So?
Is this surprising, that newly wealthy Chinese who build products for
the Wal-Marts of American consumers are able to outbid the
unproductive, scrape the dirt, farmers of Sudan and Zimbabwe and Chad
and Niger and Congo and 30 other pestholes of black Africa?
What is needed is for the world to stop intervening in Africa and just
let the negro/cannibal primitives burn off. Africa needs to lose its
negro population. Then, ten years later, after the rot has faded,
whites and Asians can move in.
Fact is, about 2.4 billion on the planet today have no economic hope of
survival. Interfering with their departure just means even more have to
die out later. Best thing to do is to let the dirts go back to being
dirt.
There are no gods, there is no "sacred." People breed like algae
blooms. Right now, a few billion have "bloomed" as fertilizer from the
West and Developed World was dumped in the breeding pool.
Algae blooms always die out.
--Tim May
"The Rifleman"
> "The Rifleman" wrote:
>> Theres far to many of these articles coming to light, and its running
>> from the US to Hiati, India, parts of africa, indonesia, asia parts of
>> eastern europe etc, I think its time to get back on topic for a while.
>>
>
> And what topic would that be? Trivial banter? Insults and verbal
> pissing contests?
>
> So to you food shortages are not a survival topic. Well, they are
> on topic. You think not talking about the 900 pound gorilla in the
> kitchen will make it go away? We've been watching the nuts loosen on
> the international monetary machine for several years and recently
> several have fallen off. It's time to rally the troops and make plans
> for resource acquisition. It's time for misc.survivalism to dispense
> with the BS and get down to business.
>
> You sound a bit scared. Maybe you better take the year off.
> Go to Spain.
Strabo you silly bugger, have you been hanging round with Ron, I made the
comments above to mean that I am not going to play bait the yank, anfd
getting back on topic meant that, focusiong on survival, thats why I posted
the various news artricles from across the world on food shortages. Cheer up
you silly old duffer your not really anything like Ron.
Robert Sturgeon
(snips)
>> When a loaf of bread is $20 and a 25# of rice is $180, you'll see some
>> hoarding then.
>>
>That'll be too late for "hoarding". It's never too early for
>preparation.
The secret to panicking is to be early. Beat the crowd.
When the crowd panics, it's waaaaaay too late.
--
Robert Sturgeon
Alcohol, Tobacco & Firearms should be a convenience store, not a government agency.
http://www.vistech.net/users/rsturge/
Robert Sturgeon
<USENE...@THE-DOMAIN-IN.SIG> wrote:
>"strabo" <str...@flashlight.net> wrote in message
>news:1208898778_428@isp.n...
>
>> >> The NY Sun says that Costco has resorted to "rationing" bags of rice in
>> >> California and flour and oil in New York due to limited supply:
>
>> >> "Due to the limited availability of rice, we are limiting rice
>> >> purchases based on your prior purchasing history," a sign above the
>> >> dwindling supply said.
>
>That line sounds interesting. My understanding is that, Costco
>is a members-only store. So your entire "prior purchasing
>history" is on file, since the day you joined.
>
>So I wonder what the rationing criteria are?
Reason #37 to not be a "member" of Costco. If I'm buying
rice, I want to buy it from people willing to sell to me
based on the price of rice, period. What I bought last year
has no bearing on what I want to buy today. If I want 25
tons of it now, even though I've never bought so much as an
ounce before, so what? Whose business is that, other than
my own?
(rest snipped)
Too_Many_Tools
>
> - Show quoted text -
On a similar note, I heard that the Mexican government expects a large
influx of starving conservatives coming across the border to Mexico.
They will be welcomed in the same manner as the Americans welcomed
their citizens.
TMT
Too_Many_Tools
And soon the stories will be "starving people in America"....
What goes around comes around.
TMT
Bob Brock
I would think that the Americans would head north to Canada. However,
they may find it already crowded by the South Americans who skipped
the US to go there. Americans may have to go to the back of the soup
line.
Too_Many_Tools
> terryc wrote:
> > On Tue, 22 Apr 2008 19:27:53 -0400, strabo wrote:
>
> >> Lag time in inventory, distribution and pricing.
>
> > The only lag time here is really ship delivery time or the storage of
> > seasonal crops where they are not exported.
>
> > OTOH, I've never know any major retailer to delay raising prices if
> > they thought they could get away from it.
>
> Manufacturers and distributors of refrigerators, washing machines,
> autos, etc., plan floor layout, inventory, financing and advertisements
> months in advance. It's a complex operation. Price changes are
> figured into the next cycle.
>
> We should see price increases in all items by fall.
>
> ---= - Total Privacy via Encryption =---
Yep...the rising prices that you are seeing are due to the higher
costs paid last year by suppliers.
It takes time for it to filter through the system...unless you are an
oil company with a monopoly.
TMT
Too_Many_Tools
> In article <pan.2008.04.23.02.08.45.545...@woa.com.au>, terryc
Correction....how conservatives will be drinking dog piss out of rusty
hubcaps. ;<)
TMT
terryc
> Reason #37 to not be a "member" of Costco. If I'm buying
> rice, I want to buy it from people willing to sell to me
> based on the price of rice, period. What I bought last year
> has no bearing on what I want to buy today. If I want 25
> tons of it now, even though I've never bought so much as an
> ounce before, so what? Whose business is that, other than
> my own?
If it is a member only shop, then they don't give a dam. all they are
trying to do is not becomethe meat in the sandwich by being able to say
that "we took action to prevent other members from hoarding".
terryc
> They will be welcomed in the same manner as the Americans welcomed
> their citizens.
Apparrently the Texans are very welcoming og th mexican drug loards who
want to buy pallet loads of guns from them. so, I guess it will depend on
who welcomes them.
Bob Brock
>On Tue, 22 Apr 2008 23:34:56 -0700, Coffee's For Closers
><USENE...@THE-DOMAIN-IN.SIG> wrote:
>
>>"strabo" <str...@flashlight.net> wrote in message
>>news:1208898778_428@isp.n...
>>
>>> >> The NY Sun says that Costco has resorted to "rationing" bags of rice in
>>> >> California and flour and oil in New York due to limited supply:
>>
>>> >> "Due to the limited availability of rice, we are limiting rice
>>> >> purchases based on your prior purchasing history," a sign above the
>>> >> dwindling supply said.
>>
>>That line sounds interesting. My understanding is that, Costco
>>is a members-only store. So your entire "prior purchasing
>>history" is on file, since the day you joined.
>>
>>So I wonder what the rationing criteria are?
>
>Reason #37 to not be a "member" of Costco. If I'm buying
>rice, I want to buy it from people willing to sell to me
>based on the price of rice, period. What I bought last year
>has no bearing on what I want to buy today. If I want 25
>tons of it now, even though I've never bought so much as an
>ounce before, so what? Whose business is that, other than
>my own?
I find this surprising. I thought that you thought that people should
be willing to sell what they want to sell at the price they want to
sell it. Even if that included not selling it at all or limiting
sales.
Robert Sturgeon
Why should they care if other members hoard?
strabo
> In alt.survival, I agree with you. However, I make a concentrated
> effort to stay on topic there anyway. Misc.survivalism, I kind of
> doubt that it will ever return to being mostly on topic.
>
I suspect that as time goes on everyone will become more focused on
core issues of survival.
Tim May
> Bob Brock wrote:
> > In alt.survival, I agree with you. However, I make a concentrated
> > effort to stay on topic there anyway. Misc.survivalism, I kind of
> > doubt that it will ever return to being mostly on topic.
> >
>
> I suspect that as time goes on everyone will become more focused on
> core issues of survival.
>
The "core issues of survival" are not about:
flint vs. Bic vs. match
propane vs. Sierra Stove vs. campfire
wool vs. polypropylene
internal frame vs. external frame
etc. vs. etc.
Rather, the important issues of actual survival are about the
politicians and their schemes.
Very few of us are actually going to hike into the mountains and live
off the land with our Arc'teryx packs and our Marmot sleeping bags and
our butane stoves and our North Face tents and even our Bushmaster .223
rifles.
No, what counts for survival over the next 20 years is whether the
Grabbers (the blacks, the welfare types, the Democraps) take our wealth
or not.
The key to survival lies in being willing to kill marauding black
people (negroes), Mexicans, and Jack-Booted Thugs.
Americans can survive if they are willing to kill the 60 million who
are basically communists, Papists, and Third Worlders.
--Tim May
Frank Gilliland
<tim...@removethis.got.net> wrote in
<240420080035205255%tim...@removethis.got.net>:
Sieg Heil !!!!!!!!
Mike
>When a loaf of bread is $20 and a 25# of rice is $180, you'll see some
>hoarding then.
Just buy your bread and rice in Euros, the dollar is worth three
percent less than five eighths of bugger all. The sooner the US
Dollar economy is broken the better. Billions in currency and bonds
hoarded by the Chinese and Japanese will then be worthless and then
everyone worldwide will end up on a level footing.
Total economic meltdown is the ***only*** way forward.
--
Stormin Mormon
them on, while cooking?
--
Christopher A. Young
Learn more about Jesus
www.lds.org
.
"Bob Brock" <bbr...@i-americia.net> wrote in message
news:ooos04hl6371btje1...@4ax.com...
Lazyike67
Reptards would rather bitch & starve than take welfare... Sadly
starvation takes a long time... Oh well the homeless will simply kill
'em...
Ike
Lazyike67
Sturg,
Less bitching MORE PLANTING!!!
As a farmer in the group please do explain why you "bleeding heart
liberals" are giving all your crops to the bio-fuel industry in
Berkley California?
Ike
Sue
wrote:
>Reptards would rather bitch & starve than take welfare... Sadly
>starvation takes a long time... Oh well the homeless will simply kill
>'em...
>
>Ike
LOL. Hi, Ike. How ya doin'?
Yesterday I got a p/c from one of my cash aid clients - a dad who is
raising his two kids. I'd had a face to face meeting with him maybe a
month ago but, due to advanced CRAFT disease, remembered nothing about
him. So many of my clients start out their conversations with "You
remember......". Well, I don't. I never do. So, the client
yesterday started out his statement with the standard "You
remember...". I had to admit that I had a vague recollection of
having met him some while ago but that was it. Well, I sure did
remember him when he said, "I'm the Republican". It isn't that I may
have so few Republican clients. It's that so very few of my clients
are political at all. We have a form we give to the clients asking
them if they want to register to vote. The statements are:
I would like to register to vote.
I am already registered to vote.
I do not want to register to vote.
Hardly any of them want to register and fewer still are already
registered. I used to ask why they didn't want to register. Most
said they didn't know anything about politics.
I did have one client who was disabled but getting food stamps and
MedicAid for a child who was not a relative of hers (her parents had
taken in the newborn because the mom was in jail, mom never came to
claim the child, my client's parents died, she "inherited" the child).
She was quite conservative in her political views.
Sue