Truemors
is reporting from
Member
NP Rank:
NP Rank:
Will the banking crisis become a food crisis?
Share: 
by mtippett | October 29, 2008 at 08:28 am
55 views | 0 Recommendations | 1 comment
Photos
Having no money is one thing. Having no food is another thing entirely.
Oct. 27 (Bloomberg) -- The credit crunch is compounding a profit squeeze for farmers that may curb global harvests and worsen a food crisis for developing countries.Global production of wheat, the most-consumed food crop, may drop 4.4 percent next year, said Dan Basse, president of AgResource Co. in Chicago, who has advised farmers, food companies and investors for 29 years. Harvests of corn and soybeans also are likely to fall, Basse said.
What is NowPublic?
NowPublic lets people work together to cover news events around the world.
Most RecentMost Recommended Comments (1)
at 09:14 on October 29th, 2008
This is an important story: we already have people reduced to eating mud cakes in Haiti. And the global food crisis is already causing starvation in places where there used to be affordable food. And while some think it is cool that a so-called leftwing government in Britain is blasting trillions into propping up a market bubble that gave the western world monster homes and cheap fake wood floors, it isn't really that cool when you think this money could have gone to feeding people and improving conditions in the developing world (like having clean water to drink).