One concern facing grain production and entailing
implications for seaborne trade is the levelling off of
returns for some key crops (for example, rice in Japan and wheat in Europe) in addition to the potentially
devastating effect of climate change-induced weather
extremes (for example, drought and flooding). In view of
these risks, the traditional 70-days worth of grain stocks
is now considered inadequate to ensure food security
and a larger buffer is said to be required to avoid food
price shocks (Larsen, 2013). While food prices have
eased from recent highs, grain markets remain tight
due to historically low stock levels and the pressure on
food prices resulting from more expensive inputs (fuel
and fertilizer) (International Monetary Fund, 2013).
One concern facing grain production and entailing
implications for seaborne trade is the levelling off of
returns for some key crops (for example, rice in Japan and wheat in Europe) in addition to the potentially
devastating effect of climate change-induced weather
extremes (for example, drought and flooding). In view of
these risks, the traditional 70-days worth of grain stocks
is now considered inadequate to ensure food security
and a larger buffer is said to be required to avoid food
price shocks (Larsen, 2013). While food prices have
eased from recent highs, grain markets remain tight
due to historically low stock levels and the pressure on
food prices resulting from more expensive inputs (fuel
and fertilizer) (International Monetary Fund, 2013).
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