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11106
“Loss of 25 Percent of Russian Wheat Crop Worries International Grain Markets”
by MinnPost.com - Miriam Elder   
August 17th, 2010

MOSCOW, Russia — The deadly forest fires ravaging the Russian countryside have wiped out a quarter of Russia’s grain crop, prompting the country to ban all wheat exports as of Sunday and inflaming worries of a global food crisis.

A similar food crisis in 2007-08 provoked riots around the developing world, from Bangladesh to Yemen and from Haiti to the Ivory Coast. Is the world in store for a similar fate this year? Not necessarily, analysts say.

This time around, global reserve stocks are stuffed, and healthy grain crops in countries like the U.S. and Argentina are expected to mitigate Russian shortfalls. This year, a crisis will likely be avoided, analysts say

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