Venezuela’s Hugo Chavez Seizes Cargill, Minnesota-Based Rice Producer
Want to sell your rice for a cost higher than the government thinks you should? Or slow production to a pace lower than the government’s ideal? Try that in Venezuela, and you’ll have Hugo Chavez’ troops at your company’s doorstep.
On Saturday, Venezuela’s dictator gave orders to the military to “take control” of all rice-processing mills in the country, including some US-owned plants such as the Minnesota-based Cargill. Chavez has been enforcing price caps on food commodities since 2003, and is angered by the rice companies’ recent decisions to reduce production rates in order to catch up on lost profits.
