July 26, 2012

Why a Huge Corn Harvest Is Sparking Fear

Evan Fraser, Ottawa Citizen

AP Photo

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.

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TAGGED: food, Globalization

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