Poor weather in key agricultural regions from the U.S. to France and China is shrinking grain harvests and cutting inventories, heightening the risk of famine in some of the world’s poorest nations
The world is heading toward the tightest grain inventories in years despite the resumption of exports from Ukraine, as the shipments are too few and harvests from other major crop producers are smaller than initially expected, according to grain supply and crop forecast data.
That would be fewer days of corn stocks than the world had in 2012, when the last global food crisis spurred riots.The World Bank has earmarked $30-billion to help offset food shortages worsened by war, and U.S. President Joe Biden last week announced nearly $3-billion in additional funding to combat global food insecurity.
More poor weather could further reduce global inventories, particularly if the current dry weather in South America continues into the main planting season, as the crop cycle shifts to the southern hemisphere. EU production is expected to hit a 15-year low, a decline that will push the bloc to increase 2022/23 imports from Ukraine by about 30 per cent from the previous year to 10.4 million tonnes, consultancy Strategie Grains said.Ukraine’s exports of corn and wheat have risen since a U.N.-brokered deal with Russia allowed shipments to restart from ports that had been blockaded since the war started. But it remains to be seen how much Ukraine can export, especially if the war drags on.
Shipments of wheat and other agricultural products from Ukraine have been a fraction of pre-war levels, said Kevin Hack, a global vice president for ingredients supplier Univar Solutions.Farmers in China meanwhile, have grappled with dryness, threatening crops, while India has limited rice exports due to poor weather.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Plane overshoots runway, closes airport in southern FranceAn airport serving France\u0027s southern Mediterranean coast is closed after a cargo plane overshot its runway and ended up in by a lake.
Read more »
Plane overshoots runway, closes airport in southern FranceAn airport serving France\u0027s southern Mediterranean coast is closed after a cargo plane overshot its runway and ended up in by a lake.
Read more »
Plane overshoots runway, closes airport in southern FranceAn airport serving France\u0027s southern Mediterranean coast is closed after a cargo plane overshot its runway and ended up in by a lake.
Read more »
Mali prime minister lashes out at France, UN, regional blocMali’s prime minister lashed out Saturday at former colonizer France, the U.N. secretary-general and many people in between, saying that the tumultuous country had been “stabbed in the back' by the French military withdrawal.
Read more »
Mali prime minister lashes out at France, UN, saying country had been 'stabbed in the back'Mali’s prime minister lashed out Saturday at former colonizer France, the UN secretary-general and many people in between, saying that the tumultuous country had been 'stabbed in the back' by the French military withdrawal.
Read more »