Wild weather is wreaking havoc on crops all over the world, which is sending prices soaring.
On wheat farms in the U.S. and Russia it’s drought that is ruining harvests. The soybean fields of Brazil are bone dry. In Vietnam, Malaysia and Indonesia, Torrential downpours are causing flooding in rice fields and the stand of oil palm trees. As prices rise from sugar to cooking oil, millions of working class families are getting deeper in debt.
The Bloomberg Agriculture Spot Index, a gauge of nine crop prices, has risen 28 per cent since April, its highest in four years. Wheat is at its most expensive since 2014.
The wild weather is a result of global warming, itself a result of the mad scramble for profits, the very death blood of capitalism.
S.P.C. Members.
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