Floods, Fires and Famine

Published on 16th August 2010

Early this year, the volcanic eruption in Iceland rudely reminded each one that the world is interconnected, when it grounded air travel in Europe. The wildfires in Russia have triggered a rise in wheat prices and unprecedented increase in investor speculation on agricultural activities. Russia’s wheat yield is expected to plummet by 20% due to drought and wild fires; Canada’s wheat yield faces a similar scenario due to adverse weather (New York Times; accessed August 14, 2010)

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