Not by Fire but by Ice

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Fears of Global Food Crisis

Supplies already tumbling
 

 

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8 Oct 10 - E-mail from reader.

Robert,

"The food production situation is getting worse!" says reader Peter Pesola. "Food supplies are already tumbling."

Indeed, Hussein Allidina, head of commodities research at Morgan Stanley, is quoted as saying, "I think we have a food crisis right now."

"Fears of a global food crisis swept the world's commodity markets as prices for staples such as corn, rice and wheat spiralled," says this article in the Financial Times. This after the US government warned of "dramatically" lower supplies.

Droughts in some countries, heavy rain in others, and an especially hot summer in the US have raised concerns of "a severe squeeze in food supplies and a repeat of the 2007-08 food crisis."

As I've been saying all along, "I fear we'll be fighting in the streets for food long before we're covered by ice.

See entire article:
http://www.ft.com/cms/s/0/12b06cee-d300-11df-9ae9-00144feabdc0,_i_email=y.html
Thanks to Peter Pesola for this link


 





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