China - Drought affects corn and pork prices
http://english.cctv.com/program/bizchina/20090824/102525.shtml
25-Aug-2009 (16 years 9 months 19 days ago)Areas currently suffering the worst drought in China are the three northeastern provinces, along with the eastern sector of the Inner Mongolia Autonomous Region. These locations boast important farm land for corn, the major feed for swine.
Corn prices have increased for six months in a row. As 60 to 70 percent of the product is used for pigs, pork prices have inevitably increased. Government agencies have reserved 120-thousand tons of frozen pork to avoid serious price fluctuations.
Corn prices have increased for six months in a row. As 60 to 70 percent of the product is used for pigs, pork prices have inevitably increased. Government agencies have reserved 120-thousand tons of frozen pork to avoid serious price fluctuations.