Posted on 09/02/2010 5:03:31 PM PDT by La Lydia
Russia announced a 12-month extension of its grain export ban on Thursday, raising fears about a return to the food shortages and riots of 2007-08 which spread through developing countries dependent on imports. The announcement by Vladimir Putin came as the UN’s Food and Agriculture Organisation called an emergency meeting to discuss the wheat shortage, and riots in Mozambique left seven dead.
The unrest in Maputo, in which 280 people were also injured, followed the government’s decision to raise bread prices by 30 per cent. Police opened fire on demonstrators after thousands turned out to protest against the price hikes, burning tyres and looting food warehouses.
Although agricultural officials and traders insist that wheat and other crop supplies are more abundant than in 2007-08, officials fear the deadly Mozambique riots could be replicated....
“This is quite serious,” said Abdolreza Abbassian, of the FAO in Rome. “Two years in a row without Russian exports creates quite a disturbance.” Dan Manternach, chief wheat economist at Doane Agricultural Services in St Louis, added: “This is a wake-up call for importing nations about the reliability of Russia.”
Jakkie Cilliers, director of South Africa’s Institute of Security Studies, said there was concern over a repeat of the protests of 2008: “That certainly strengthened a return of the military in politics in Africa.”
European wheat prices on Thursday hit €231.5 a tonne, just shy of last month’s two-year high of €236. Wheat prices have surged nearly 70 per cent since January, and analysts forecast further rises after Russia’s decision and concerns about weather damage to Australia’s crop...
(Excerpt) Read more at ft.com ...
ping
The ChiComs want to colonize Africa. Let Red China feed them.
Yea but chestnut just ate 8 pounds of ribs so there!!!
It has to be true because market oracle, pravda,business insider,financial times,ect told me so.
The U.S. is projected to have a pretty good supply of Wheat this year.
Will Obozo trade it for oil ??? or give it away to starving enemies?
Ah, another censor.
Will you provide your list of approved posting sites?
We have little grain to sell or give away, we are using it to make fuel.
Glenn Beck’s “seed bank” and food insurance sponsors don’t seem quite so wacky now.
The farmers are easily able to produce enough food for everybody. It’s the politicians of this world that create shortages.
Famine will come again to those nations that cannot feed themselves and rely on imports of food.
They may be starving to death, but they will not be eating genetically modified grain.
The unrest in Maputo, in which 280 people were also injured, followed the government's decision to raise bread prices by 30 per cent. Police opened fire on demonstrators after thousands turned out to protest against the price hikes, burning tyres and looting food warehouses. Although agricultural officials and traders insist that wheat and other crop supplies are more abundant than in 2007-08... Jakkie Cilliers, director of South Africa's Institute of Security Studies, said there was concern over a repeat of the protests of 2008: "That certainly strengthened a return of the military in politics in Africa." European wheat prices on Thursday hit €231.5 a tonne, just shy of last month's two-year high of €236. Wheat prices have surged nearly 70 per cent since January, and analysts forecast further rises after Russia's decision and concerns about weather damage to Australia's crop...Thanks La Lydia. I underlined the buried lead.
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