More news on the impacts to the food production…
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Loss of 25 percent of Russian wheat crop worries international grain markets
By Miriam Elder
MOSCOW, Russia — The deadly forest fires ravaging the Russian countryside have wiped out a quarter of Russia’s grain crop, prompting the country to ban all wheat exports as of Sunday and inflaming worries of a global food crisis.
A similar food crisis in 2007-08 provoked riots around the developing world, from Bangladesh to Yemen and from Haiti to the Ivory Coast. Is the world in store for a similar fate this year? Not necessarily, analysts say.
This time around, global reserve stocks are stuffed, and healthy grain crops in countries like the U.S. and Argentina are expected to mitigate Russian shortfalls. This year, a crisis will likely be avoided, analysts say.
Yet with Russia already making predictions that its fall and winter planting will likely be disrupted, bigger problems could lie ahead. And analysts warn that a heavy reliance on this year’s record U.S.
crop means that if the weather stateside changes, all predictions would go out the window.
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Loss of 25 percent of Russian wheat crop worries international grain markets
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