FALLING INVENTORY: Rice importers from Nigeria to the Philippines are at risk as prices surge and exporters such as China and Vietnam curb outbound shipments
India, the world's second-biggest rice producer, increased the minimum export price for the grain to boost local supplies and curb inflation as global stockpiles of cereals fall to the lowest in more than two decades.

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China said yesterday it would pay farmers more for rice and wheat, trying to raise output and cool surging inflation that threatens to fuel unrest ahead of the Beijing Olympics.

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Denmark's DONG Energy A/S and a Silicon Valley-based startup firm said on Thursday they would install an electric car network in the Scandinavian nation with some 20,000 recharging stations.

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SHORTFALL: Economists said the deficit could put further pressure on the won, preventing the Bank of Korea from lowering rates to stimulate growth
The Bank of Korea said yesterday that South Korea's current account balance sustained a large deficit last month -- after posting the biggest shortfall in 11 years in January -- and will likely remain in deficit through next month.

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The specter of a new food scare loomed over Europe on Thursday as Italy faced a possible EU ban on imports of mozzarella cheese because of high levels of dioxins in the milk used to make it.

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■ BEVERAGES

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