July 26, 2012
Why a Huge Corn Harvest Is Sparking Fear
Evan Fraser, Ottawa Citizen
This summer, the worst drought in 50 years has decimated corn yields across North America, driving prices up to all-time highs. Wheat and soy are not too far behind and if India’s monsoon doesn’t co-operate, rice prices could soar as well. Luckily, Canadians are buffered at the supermarket cash register by the fact that the price of commodities represents only a small percentage of our grocery bill. But international commentators worry this will translate into food riots in less stable countries by autumn.
TAGGED: food, Globalization