Rice profits are being canceled by the spike in oil and other farming costs

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It's been a great year for rice prices, but a rough one for rice production. Global rice scarcity has boosted demand and that’s meant U.S. rice growers can charge more for the staple. But the high market price of rice is being canceled out by the spike in oil. Mississippi rice farmer Gary Fioranelli explains how the cost of fuel, fertilizer and other farming necessities has doubled his production costs from last year and how he's banking on a bumper crop this year to stay in business.Guest: Gary Fioranelli, a second-generation Mississippi rice farmer and chairman of the U.S. Rice Producers Association