Weather is the single largest factor that impacts crops in develo…
Weather is the single largest factor that impacts crops in developing countries. The 2007-08 growing season is a La Nina year. Enough rain has fallen in India and China for record crops. But not enough rain has fallen in the U.S. and Australian wheat belts, where crop estimates are a bit lower.
The forecast for 2007-08 is about 614 million tons, while expected consumption is about 625 million tons — leaving a 10-11 million ton shortfall.
Reports have been released by growing nations like Australia, Canada and the United States of adverse weather conditions in their wheat-growing belts, however. Traders reacted fast and furiously and began boosting prices.
Is Rice feeling a lack of attention these days? This sounds like a provocative soundbite to put her back in the news…
-p.s. Here’s a link to my source…
http://www.upiasiaonline.com/Economics/2008/03/18/ …