Friday, March 11, 2011

Market News

Ag Economis: Chance of Global Food Crisis in 2011 Has Increased

Washington--The world is consuming grains faster than farmers are growing them, draining reserves and pushing prices to the levels that fueled food riots in poor countries three years ago."A big U.S. crop will be needed to meet the demand," according to an article in today’s Wall Street Journal.

The stage is set for very serious disruptions, should weather disasters happen,” said Keith Collins, the former chief economist of the Agriculture Department. “It seems clear to me that the chance of a more widespread global food crisis has increased.”

No comments: