EU’s crop yield projected to fall

Must read

REVIEW: The Half of It by Theresa Christine

KaetrinBook Reviews / C+ ReviewsContemporary / found family / Ireland / Small-TownNo CommentsDear Theresa Christine,Juniper (June) Martin is a New York City journalist for...

eToro jumps 30% on Nasdaq debut after upsized IPO

Crypto and stock trading platform eToro has seen its share price gain nearly 30% during its debut on the Nasdaq after the company made...

Crypto startups scaring away VCs with 80x valuations: 10T Holdings

Many crypto startups are losing out on venture capital opportunities due to their valuation-to-revenue ratios being excessively high, an industry executive said. Too...

Google search volume for Bitcoin flat as BTC nears new highs — Where are retail investors?

Key takeaways:Google search data and app rankings show retail Bitcoin investor demand near 6-month lows.Retail investor interest typically peaks 1 week after BTC breaks...

The production of wheat and other grains in the European Union is expected to fall this year due to dry weather, agriculture consulting firm Strategie Grains warned in its latest report, published on Thursday. 

The study showed that the EU’s wheat crop is expected to be 123.3 million tons, down from the 124.4 million projected in June and below the 129.9 million tons harvested last year.

The barley harvest is 49.6 million tons, compared to the 50.3 million predicted last month and 51.9 million in 2021. The corn harvest is projected to fall to 65.4 million tons, down from 66.8 million tons last month and 69.7 million last year.

The research company lowered its wheat and barley crop estimates last month, citing overly dry conditions during the first half of the growing season in many countries.

“Recurrent water shortages and hot weather in many production zones are adversely impacting yield potentials,” Strategie Grains stated.

The grim forecast comes at a time when the grain crisis is being felt across the globe as wheat prices have surged to record highs over the past two months. The global food market, already affected by weather and the Covid pandemic, was dealt another blow due to the Russia-Ukraine conflict and Western sanctions on Moscow. Together, Russia and Ukraine export more than a quarter of the world’s wheat. Russia is also the world’s largest exporter of fertilizers.

This has sparked fears of global food insecurity and hunger. The executive director for the UN’s World Food Program, David Beasley, has said that 49 million people in 43 countries are already “knocking on famine’s door.”

More articles

Latest article

REVIEW: The Half of It by Theresa Christine

KaetrinBook Reviews / C+ ReviewsContemporary / found family / Ireland / Small-TownNo CommentsDear Theresa Christine,Juniper (June) Martin is a New York City journalist for...

eToro jumps 30% on Nasdaq debut after upsized IPO

Crypto and stock trading platform eToro has seen its share price gain nearly 30% during its debut on the Nasdaq after the company made...

Crypto startups scaring away VCs with 80x valuations: 10T Holdings

Many crypto startups are losing out on venture capital opportunities due to their valuation-to-revenue ratios being excessively high, an industry executive said. Too...

Google search volume for Bitcoin flat as BTC nears new highs — Where are retail investors?

Key takeaways:Google search data and app rankings show retail Bitcoin investor demand near 6-month lows.Retail investor interest typically peaks 1 week after BTC breaks...

Dogecoin active addresses surge by 528% — Will DOGE price follow?

Key Takeaways: Dogecoin's active addresses surged 528% to 469,477.DOGE’s futures open interest rose 70% to $1.65 billion, indicating strong speculative interest.On May 13, Dogecoin...