Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Actually, GW could bring us catastrophic crop failures even (or even more yet !) with rising oil supplies. We are basically seeing it now in Australia, Ukraine, Russia, France: all are at least -25% below expectations, if not more. And the first 3 in my list are talking of closing exports, of course.

Catastrophic crops will kill hundreds of millions in the next few years, but western countries will not come up with a grain-equivalent of the IEA strategic reserves until there is a bad price-rationing in a developed nation. I expect this could occur soon at the US agribusiness level of the supply chain, if we get the same crops for a few more years, keep on the biofuel craze, and the eastern block cuts its exports to keep a lid on domestic prices. Given the job and money weight of US agribusiness, hopefully they will shout out loud enough.


by Pierre on Mon Sep 24th, 2007 at 10:02:54 AM EST
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