As if the global meltdown and soaring food prices are not enough, now brace up for food shortage in the coming two years.
Even as the world is struggling to fight global market meltdown with companies sacking employees and Industries scaling down production, the world will also have to tackle food shortage and soaring prices in the coming days.
Still, this year’s record cereal harvest and the recent fall in food prices should not create a false sense of security.
If the current price volatility and liquidity conditions prevail in 2008/09, plantings and output could be affected to such an extent that a new price surge might take place in 2009/10, unleashing even more severe food crises than those experienced recently.
Meltdown to hit agriculture, food shortage looms
Even as the world is struggling to fight global market meltdown with companies sacking employees and Industries scaling down production, the world will also have to tackle food shortage and soaring prices in the coming days.
Still, this year’s record cereal harvest and the recent fall in food prices should not create a false sense of security.
If the current price volatility and liquidity conditions prevail in 2008/09, plantings and output could be affected to such an extent that a new price surge might take place in 2009/10, unleashing even more severe food crises than those experienced recently.
Meltdown to hit agriculture, food shortage looms