As Pakistan is suffering from hard times of history. The massive flood has brought a lot of destruction. It is doubted that due to this Pakistan will face an increase in amount of all eatables. But Agricultural experts articulate that they are not worried about the recent increase in wheat prices, caused by flood in Pakistan or by the drought in Russia and the ban on Russian Wheat exports.
They have said that world wheat production will reach the same level this year also, 645 million metric tons. Prices for December wheat are estimated of about $6.95 a bushel, down over 50 cents.
The first reason of prices which has been less volatile is that big grain buyers, like cereal companies, have learned to prevaricate of their buying. They also say that this episode of market volatility is better than two years ago which led to food demonstration in many parts of the world.
The experts have a view that theyre not supposed to characterize a couple of bad harvests, or the floods in Pakistan. They also assured that this instability in grain prices was not caused by farmers decisions or failures of government policy. Drought and flood are responsible for it.
The number of humans on this globe compels us to contemplate the limits of the worldwide grain harvest due to harsh weather constraints and different diseases like rust which is also called Ug99, which has destroyed African crops.
The basic viewable hope is that how to mitigate by the climate change??? It is thinking that the experts may be right, the rains may fall or not while wheat production may normalize.!