The new normal (part 10): Kazakhstan’s alarming drought, global grain prices rising

Central Asia is feeling the heat, and “alarmingdrought in Kazakhstan has driven up flour prices in that country 25%-40%. What prices are soaring:

Worldwide, wheat prices have soared 50% since June, pushed up by drought news and poor harvest predictions from Russia, the world’s third largest wheat exporter.

As the Sydney Morning Herald notes, global prices for grains are rising in response to weather disasters:

Global grain prices are on the increase and unlike many of the daily gyrations in financial markets, these spasms will be felt by Australian households – and soon.

Victorian egg farmer Brian Ahmed says the cost of wheat used to feed his chooks has risen by almost half, or $100, to $316 a tonne in just the past fortnight.

3 thoughts on “The new normal (part 10): Kazakhstan’s alarming drought, global grain prices rising

  1. […] The New Normal: Kazakhstan’s Alarming Drought, Global Grain Prices Rising, […]

  2. Sammy Jankis says:

    Sadly, the price impacts of weather disasters resulting from climate change will be cited as a reason not to act on climate change:

    Grain prices are going up. Times are getting tough, so now is not a good time to put a price on carbon…

  3. […] 2012/07/18: WtD: The new normal (part 10): Kazakhstan’s alarming deficiency, global grain prices r… […]

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