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West Africa: Rice price-fixing poses vast threat to society

By  |  March 7, 2013

A commodity broker in West Africa is warning of the vast dangers of price-fixing rice, which is a food staple in the region. According to the broker, manipulating the price of rice can lead to “social and political instability” as speculation grows over commodity prices set by international businesses. According to this report, the broker, who was not named, focused on Guy de Montule, head of Dreyfus Commodities and who has been accused of selling low-grade, inedible rice into various countries in Africa. It’s a scam that may lead to higher rice prices which, historically, has lead to protests, social unrest and widespread hunger.

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