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UN Meeting Called Over Price Of Wheat
07 September 2010
RUSSIA – A meeting has been held by the Food and Agricultural Organization of the UN to discuss rising wheat prices.
The MoneyTimes.com website revealed the UN has expressed concerns over the ban imposed on food grain export by Russia, added to the poor harvest predicted in other parts of the world due to flooding and draughts."We are faced with an unstable situation. The memories of what happened a couple of years ago are still afresh and the people remember what happened a few years ago, so it is a combination of psychology and the expectation that worse may come," said Abdolreza Abbassian, economist with the Food and Agricultural Organization.
He went on to say that "there may be critical months ahead", as harvests in Germany in Canada might be affected by wet weather, while crops in Argentina are not seeing enough rain.
Recently, Maxim Zhalin, head of an agricultural holding in Tambov called October, said that if crops are not sown now in Russia, then nothing will be reaped.
TheCropSite News Desk
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