From the Financial Post:
...Given the “dust bowl” droughts now gripping countries that make up almost two thirds of the worlds breadbasket – the U.S., many countries in South America, Australia, China and parts of Canada, the price of food staples – wheat, rice, corn, soybeans etc, will continue to rise.
“The whole global picture is flagging up signals that we’re moving out of a period of abundant food supply into a period in which food is going to be in much shorter supply,” says Henry Fell, chairman of Britain’s Commercial Farmers Group.
If we’re hit by a particularly bad harvest or if a severe El Nino strikes, food supplies could get totally out of control in many countries.
The Ghost of Thomas Malthus
The U.N. calls the global food crisis a “silent tsunami” and faith in the ability of local and global commodity markets to fill 6.6 billion bellies, never mind the projected 2.7 billion more by 2050 (U.N. projections say the world’s population will peak at 9.3 billion in 2050), has been shaken.
Are the words of Thomas Malthus coming back to haunt us?