Wal-Mart Stores Inc.’s Sam’s Club warehouse unit is restricting purchases of some types of rice to four bags a visit as prices reached a record in Chicago futures trading. The limits on jasmine, basmati and long-grain white rice, a response to “recent supply and demand trends,” will be put into effect in all U.S. stores where allowed by law and are effective immediately, Sam’s Club spokeswoman Kristy Reed said today in an e-mailed statement. Some consumers have started hoarding rice, the food staple for half the world as prices soar and supplies shrink. China, Vietnam, India and Egypt have curbed sales abroad to safeguard domestic supplies and cool inflation. Thailand also may restrict shipments, a World Bank official said today. ‘The warehouse clubs are doing it to protect their business customers, like smaller restaurants, caterers, nursing homes, day-care centers,” said food consultant Jim Degen. “The business members are the most important members in warehouse clubs because they generate so much more revenue per member.” Degen is a principal of J.M. Degen & Co., a food industry marketing consulting firm based in Templeton, California. Some of Costco Wholesale Corp.’s stores, including locations in California, have put limits […]