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Re: Most Under-reported Story Today?
FT gets into the story as well..
http://www.ft.com/intl/cms/s/0/ad1ec...44feabdc0.html
*snip*
The rise in grain prices has inspired comparisons with 2007-08, when a price surge triggered a wave of food riots in more than 30 countries from Bangladesh to Haiti, and 2010, when Russia banned grain exports, setting off a price jump that some have argued helped to cause unrest across the Arab world last year.
Luke Chandler, head of agricultural commodities research at Rabobank, a leading lender to global agribusiness, says: “This certainly has the potential that we go back to a 2008 scenario.”
*snip*
With the prospect of a return of El Niño, the weather phenomenon that triggered droughts in Argentina and Australia, contributing to the 2007-08 crisis, later this year, the world economy will be once again beholden to the weather.
Mr Abbassian of the FAO says: “We’re back to square one of last year – you’re basically back to a hand-to-mouth situation. We have a very bumpy road ahead for the next few months.”
FT gets into the story as well..
http://www.ft.com/intl/cms/s/0/ad1ec...44feabdc0.html
*snip*
The rise in grain prices has inspired comparisons with 2007-08, when a price surge triggered a wave of food riots in more than 30 countries from Bangladesh to Haiti, and 2010, when Russia banned grain exports, setting off a price jump that some have argued helped to cause unrest across the Arab world last year.
Luke Chandler, head of agricultural commodities research at Rabobank, a leading lender to global agribusiness, says: “This certainly has the potential that we go back to a 2008 scenario.”
*snip*
With the prospect of a return of El Niño, the weather phenomenon that triggered droughts in Argentina and Australia, contributing to the 2007-08 crisis, later this year, the world economy will be once again beholden to the weather.
Mr Abbassian of the FAO says: “We’re back to square one of last year – you’re basically back to a hand-to-mouth situation. We have a very bumpy road ahead for the next few months.”
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