Global Food Shortage
(Re-post from this weekend, look at these numbers)
I want to bring the developing global grain shortage to my fellow VMC'ers attention. There will be more and more press on this developing crisis as the year unfolds.
Here are the numbers:
Global Farmland Under Cultivation (millions of hectares):
........................1998 -1999 -2000 -2001 -2002 -2003 2004 -2005 -2006 2007
Area (hectares) 686.3 670.4 666.0 666.8 653.8 664.2 667.9 671.8 668.4 684.7
As you can see from the numbers, despite the growth in crop prices, the same amount of land that was under cultivation 10 years ago is being farmed today.
Total Global Grain Stats for the past 10 years(millions of tonnes):
Production (metric tons) 1,875 -1,872 -1,842 -1,874 -1,821 -1,861 -2,043 -2,016 -1,991 -2,077
Consumption (metric tons) 1,836 -1,867 -1,863 -1,905 -1,914 -1,947 -1,994 -2,031 -2,045 -2,096
Ending stocks (metric tons) 579 -584 -563 -532 -440 -355 -403 -388 -335 -315
As you can see from the numbers consumption has risen above production and inventories are nearly HALF of what they were 10 years ago.
Enter the Bio-Fuels initiative/mandates and what they will consume and you can only come to one conclusion......Global Grain Shortage!
It should also be noted that North America has not had a dramatic weather event for 16 years running. Any major drouth will have a devastating impact.
