Thursday, March 10, 2011

World is now consuming more grain then it is producing

A grim report issued today by the Russian Agriculture Ministry warns that wheat plantings in the country, once the World’s second-biggest exporter, will drop 2.3 percent to 64.2 million acres for this year’s crop due to last summers historic drought and the soaring cost of oil and the fertilizer made from it.

The Bloomberg News Service further warns about this report that this absence of Russian supplies comes as the US says Global grain inventories will drop 13% this year and have led to riots that has toppled leaders in Tunisia and Egypt and more governments around the World have starting hoarding food.
This dire news comes at the same time the Wall Street Journal News Service is warning that our World is now consuming more grain then it is producing and London’s Telegraph News Service is warning that American farmers are now fearing a return of the apocalyptic 1930’s Dust Bowl as the Ogallala Aquifer, the World’s largest underground body of fresh water, begins to run dry.


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