The world is heading toward the tightest grain inventories in years despite the resumption of exports from Ukraine, as the shipments are too few and harvests from other major crop producers are smaller than initially expected, according to grain supply and crop forecast data.
That would be fewer days of corn stocks than the world had in 2012, when the last global food crisis spurred riots.The World Bank has earmarked $30-billion to help offset food shortages worsened by war, and U.S. President Joe Biden last week announced nearly $3-billion in additional funding to combat global food insecurity.
More poor weather could further reduce global inventories, particularly if the current dry weather in South America continues into the main planting season, as the crop cycle shifts to the southern hemisphere. EU production is expected to hit a 15-year low, a decline that will push the bloc to increase 2022/23 imports from Ukraine by about 30 per cent from the previous year to 10.4 million tonnes, consultancy Strategie Grains said.Ukraine’s exports of corn and wheat have risen since a U.N.-brokered deal with Russia allowed shipments to restart from ports that had been blockaded since the war started. But it remains to be seen how much Ukraine can export, especially if the war drags on.
Shipments of wheat and other agricultural products from Ukraine have been a fraction of pre-war levels, said Kevin Hack, a global vice president for ingredients supplier Univar Solutions.Farmers in China meanwhile, have grappled with dryness, threatening crops, while India has limited rice exports due to poor weather.
Isn't there complaints from western Canada they can't move their bumper grain crop fast enough?
Drought? How about the WEF’s push to remove farmers from their lands to produce OUR food. Why not burn more production facilities while their at it.
Lol… another agenda item…
So drought and war is now linked. You’re pathetic
Is there anything else that could be causing this... Anything