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01 July, 2011

Global Agriculture Supply Worsening May Spur Food Shortages

Global Agriculture Supply Worsening May Spur Food Shortages, Rogers Says - Bloomberg: "... The global agriculture supply situation has worsened and a failure to boost food production fast enough to meet demand may lead to shortages...

... China, the world’s largest consumer of grains, energy and metals, has raised interest rates four times since October and increased bank reserve requirements nine times to tame above- target inflation. The nation’s food-price inflation was at 11.7 percent in May, matching levels in March and November when they were at the highest since July 2008, the year of the global food-price crisis.

Global stockpiles of corn, the most-consumed grain, are forecast to drop to 47 days of use, the fewest since 1974, data from the U.S. Department of Agriculture show. Inventories are declining as demand continues to outstrip production that’s forecast to rise to a fifth consecutive year of record..."


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