Expect a catastrophic fall in food production in 2009

Historic droughts are striking the same places the world relies on for food production.

The countries that make up two thirds of the world's agricultural output are experiencing drought conditions. Whether you watch a video of the drought in China, Australia, Africa, South America, or the US , the scene will be the same: misery, ruined crop, and dying cattle.
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Low stocks of foodstuff make the world's falling agriculture output particularly worrisome. The combined averaged of the ending stock levels of the major trading countries of Australia, Canada, United States, and the European Union have been declining steadily in the last few years:

2002-2005: 47.4 million tons
2007: 37.6 million tons
2008: 27.4 million tons

These inventory numbers are dangerously low, especially considering the horrifying possibility that China's 60 million tons of grain reserves doesn't actually exists.

The world is heading for a drop in agricultural production of 20 to 40 percent, depending on the severity and length of the current global droughts. Food producing nations are imposing food export restrictions. Food prices will soar, and, in poor countries with food deficits, millions will starve.

The droughts plaguing the world's biggest agricultural regions should end the debate about deflation in 2009. The demand for agricultural commodities is relatively immune to developments in the business cycles (at least compared to that of energy or base metals), and, with a 20 to 40 percent decline in world production, already rising food prices are headed significantly higher.

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hmmmm......

I just read through your source and I would do a reality check on some of this and get a second source. While I believe between Monsanto wanting to patent seeds and global climate change this is possible, I'm not so sure of the analysis I just read.

He's got a huge section of the planet in "red", yet going to this government drought predictions for 2009, here, I don't see anything like that for the United States.

China is facing the worst drought in 50 years but whether they actually have the reserves or not is like chasing a conspiracy theory...as this blog duly notes the lack of evidence of these reserves as well as the CT aspect of it all.