What’s On The Menu For Summer 2009?
News Report (translated from bigness.ru): Up to 20% of farms worldwide may go bankrupt by spring of 2009. A decreasing demand for raw biological materials made from grain crops has become a global trend, which explains the price reduction for grain crops. The wave of bankruptcies may cause a sudden decline in food prices as the manufacturers clear their warehouses of goods. As a result, even manufacturers capable of surviving the crisis will suffer major losses on account of the sudden price cuts. However, 7-8 months later, when the provisions sold at dumping prices will be eaten, and in the absence of new provisions due to bankruptcies, the global food prices will take a sharp upturn.
My Comment: This is another example that with each passing day, the need for a single global regulator is becoming more and more pressing.
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