Wednesday, February 27, 2008

World Wheat Crisis: Three Reports

This is not something I would normally cover but the potential for a humanitarian disaster doesn't seem unlikely.

What I find morally indefensible with half the world starving is the use of foodstuffs to produce bio-fuels and grain to feed cattle.
Figures for this in the Times article.


THE world is only ten weeks away from running out of wheat supplies after stocks fell to their lowest levels for 50 years.

The crisis has pushed prices to an all-time high and could lead to further hikes in the price of bread, beer, biscuits and other basic foods. Times


For some U.S. crops, it‘s almost too late. The 2007 U.S. wheat crop is virtually sold out, while domestic soybean stocks soon will fall below a 20-day supply. Corn inventories are stronger but with demand from export markets, the livestock industry and ethanol plants, supplies also could be just as scarce for the 2008 crop. Hoosier Ag Today

Wheat prices have hit record highs and tight supplies of the staple crop have ignited concern about rising food costs.

The price of higher-quality spring wheat jumped almost 25% on Monday - the biggest one-day increase to date. BBC

Update:Scientists say they have made a key breakthrough in understanding the genes of plants that could lead to crops that can survive in a drought. BBC

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