The first sentence of this article, struck me of something straight out of the Bible. “Fire, floods, locusts, and droughts – a combination of crises that could mean higher food prices…”
Wow, just think about that for a moment.
These are the birth pains and will only get worst. It is leading us to the point of famines and economic conditions where you will work and entire day just for enough food for yourself. It could be through hyper-inflation or through food shortages, both lead to the same result.
Click on title for link to full article.
Disasters could push up world food prices
Posted on » Friday, August 13, 2010
| WASHINGTON: Fires, floods, locusts and droughts – a combination of crises that could mean higher food prices around the world over the next 12 months.The US agriculture department will released a report today assessing world grain supplies.
Many analysts expect it will forecast a two-year low for wheat inventories – an estimate that would likely send wheat prices, which have climbed steadily all summer, moving even higher. Russia, the world’s third-largest wheat exporter, imposed a four-month ban on grain exports last week because of drought. The decision will pull millions of tonnes of wheat out of world markets. The World Bank has urged other nations not to follow suit, fearing a supply crunch like the one that drove 2008 prices to twice their current levels and prompted food riots in Africa and Asia. Severe winter frosts and a summer drought have damaged the crop in Ukraine, the world’s sixth-largest exporter, and Kiev is expected to impose its own export ban later this month. |
myBlessedHope 