Australian Government Estimates 30% Drop In Wheat Crop - 11 Million Tons - Due To Drought - SMH

[hatrack]

The federal government's official agricultural forecaster has estimated an 11 million tonne drop in Australia's winter grain crop to 25.6 million tonnes.

The Australian Bureau of Agriculture and Research Economics (ABARE) today released its latest crop forecast as drought grips much of southern Australia. "Winter grain production in 2007/08 is forecast to total 25.6 million tonnes," the forecast said. "Even though this amount is well above last year's drought affected crop, it will be around 27 per cent below the five year average."

The forecast for Australia's largest crop - wheat - has dropped seven million tonnes on June estimates, to 15.5 million tonnes.

Barley production is forecast to climb from last year to about 5.9 million tonnes while canola production is estimated at 1.1 million tonnes, a massive 24 per cent below the five-year average.

EDIT

http://www.smh.com.au/news/business/wheat-forecast-slashed-on-drought/2007/09/18/1189881480562.html

[cliss]

1. Thank you, H.

Now watch wheat prices spike. I don't know what the US production of wheat is, if we've had a decent season or not. But - either way. Expect prices of flour, bread, anything to do with wheat in general - to spike.
This is not a temporary phenomenon, either. Due to changing weather patterns, we're going to see this on a regular basis.

Too many hungry people, and not enough food supplies.