Amidst predictions by FAO of a record world cereal production of 2279.5 million tonnes during 2010-2011, the bad news is that drought conditions may bring down Russia's domestic wheat production to 50 million tonnes in the current year from 63.7 million tonnes in 2008-09. Russia has already imposed a temporary ban on wheat exports. This has pushed up international prices of wheat contradicting the prediction of FAO's Food Outlook 2010...
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Russian drought could push up food prices by Richard Wray
Russia is the world's second largest producer of barley after the EU and the cereal crop is used by many farmers as animal feed. Shoppers could see the cost of the meat and poultry in their baskets rise as the price of barley has more than doubled over the past six weeks due to continued fears over the drought affecting Russia and Ukraine. Russia is the world's second largest producer of barley...
More »Wheat rises, food shares fall on Russia export ban
Wheat prices surged to a two-year high while shares in European brewers and food producers fell on Friday as markets reacted to the sudden imposition of a ban on grain exports from drought-hit Russia. Russian Prime Minister Vladimir Putin moved decisively on Thursday to halt exports of grain and flour from August 15 to the end of the year and the country’s railroad monopoly said on Friday it will stop loading...
More »Rs 60,000 crore is the cost of rotting food grain every year. Yet, millions go hungry by Suman Sahai
EVERY OTHER day there is either a newspaper report or an editorial comment lamenting the loss of food grain stored in buffer stocks. Agriculture Minister Sharad Pawar, while prophesying a bumper kharif crop, admits he is worried about not having adequate storage for the produce. At a national conference in 2003, the Central Warehousing Corporation said it had covered storage capacity for 48 million tonnes of food grain. In 2002,...
More »Global wheat production forecast to be lower than expected – UN
The United Nations Food and Agriculture Organization (FAO) has cut its global wheat production forecast for 2010 due to the impact of poor weather on crops in recent weeks, but allayed fears of a new food crisis, noting that current stocks should be adequate. The global wheat production forecast is now expected to be 651 million tonnes, down from the 676 million tonnes reported in June, the Rome-based agency said in...
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