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Russian drought means every breadbasket region on Earth has been hit with crop failure in 2012, wheat prices set to soar

 
george
User ID: 26815722
United States
11/17/2012 06:40 AM
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Russian drought means every breadbasket region on Earth has been hit with crop failure in 2012, wheat prices set to soar
Siberian farmers can barely remember when they saw a wheat harvest so small. The last crop failure on this scale was in the early 1960s, when Nikita Khrushchev led what was the Soviet Union.

Back then, the shortage in one of the world's top wheat growing regions roiled global grain markets, forcing Moscow to use its gold reserves to buy wheat from the US, its Cold War arch rival.

Today's crop failure, which follows an unusually dry and hot summer, has sent global wheat prices soaring - to a four-year high yesterday - threatening higher food prices around the world.

[link to www.sott.net]
Anonymous Coward (OP)
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11/17/2012 08:55 AM
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Re: Russian drought means every breadbasket region on Earth has been hit with crop failure in 2012, wheat prices set to soar
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