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I agree. The UN's Jean Ziegler, called biofuels "a crime against humanity", and called for a five-year moratorium. Krugman called it an insanity. The bear awakes!

OTOH, I'm not so sure that the bumper harvest numbers reported are accurate, it may carry a degree of exaggeration. I'm looking into it, awaiting China's figures.

by Asinus Asinum Fricat (patric.juillet@gmail.com) on Sun Apr 20th, 2008 at 06:11:11 PM EST
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I flat-out don't trust the statistics coming from the PRC.  But I'd be interested in hearing what you think.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Sun Apr 20th, 2008 at 10:30:30 PM EST
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This makes sober reading:

SHANGHAI (Interfax-China) -- An outbreak of sharp eyespot disease (SED), which affects cereals, is threatening 72.46 million mu (4.83 million hectares) of wheat in China's major producing regions, according to local agricultural authorities.

SED might erode the wheat output by 10% to 20%, while a more serious epidemic could cut output by as much as 50%, officials from the Henan Oil and Grain Product Quality Inspection Center told Interfax. "As it is still the early growth stage for wheat, the impact on output might be reduced, although wheat quality may be downgraded," an official from the center said.

Huang Junfei, a senior commodity analyst with Changjiang Futures, believes SED may well erode wheat output by around 5% on the 4.8 million affected hectares. As there are still a few months before the harvest, good farm work may be able to make up the losses.

by Asinus Asinum Fricat (patric.juillet@gmail.com) on Tue Apr 22nd, 2008 at 02:38:03 PM EST
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Oh.  Goodie.  

What with African stem rust running amok in Africa and the Middle East ...

A fertilizer shortage in the wheat belt of the US ...

A drought in Australia ...

Things be getting down right interesting.

Maybe we should start a $25/bushel countdown series?

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Tue Apr 22nd, 2008 at 11:26:50 PM EST
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