The drought and fires in Russia has some people wondering if wheat will cause skyrocketing prices and a food crisis much like corn did a few years back. Agricultural experts are saying there is nothing to worry about, and panicking will only make the situation worse.
Maximo Torero, director of IFPRI’s Markets, Trade and Institutions Division, says:
The prices of the other commodities, which in 2007/2008 were increasing substantially, have not increased at those levels, which mean corn and soybeans. And also the price of oil is US$75 per barrel, which before was one hundred and thirty something.You can read more about the story, or listen to a radio interview via VOA News.
