New era of food scarcity threat
Environmentalists say the world is on the brink of a new era of food scarcity driven by a "perfect storm" of climate change, water shortage and a rising population” says US analyst and author Lester Brown.
The world is adding 80 more million people are year and that means there's an extra 219,000 people at the dinner table tonight who weren't there last night.
And it's not only that, as you know it's fed to cattle, pigs and chicken. So it's the price of meat that's really at stake here when the price of corn doubles as it has over the last several months.
More than half the counties in the US have been declared natural disaster areas by the US Department of Agriculture due to the drought, which now covers more than 60 per cent of the lower 48 states. In response, the US Government plans to buy up to $160 million of meat from its farmers to help them through the drought crisis. Severe draught is also crippling farmland in Russia's wheat belt, while below average monsoon rains in India is also adding to concern that global grain crops could plunge.