TIWN

Washington, Jun 18 (TIWN): Almost four months after the Russia-Ukraine war impacted the global wheat trade, the world was looking forward to the harvest from the US - the world's fourth largest wheat exporter - but a massive drought has hit the output there with wheat production forecast at 1.18 billion bushels, down 7 per cent from 2021.
"From California to Texas, hot, dry weather compounded the effects of a punishing drought," a US government report about the weekly weather and crop condition said, adding: "Drought-related complications included dwindling surface water supplies, severe stress on rangeland, pastures, and rain-fed summer crops, and record-setting wildfires."
However, it is the wheat production that has borne the major brunt of this drought. The situation was already alarming after China and parts of Europe showed declining prospects for what and India putting in place an export ban on wheat.
- Sensex surges over 1,000 points as geopolitical worries ease
- Bernstein projects Rs 1,100 price target for Paytm with clear path to profitability and growth
- Siemens’ net profit drops over 37 pc to Rs 408 crore in March quarter
- Delhi, Mumbai airport operations normal; security checks taking longer
- Adani Green becomes world’s 1st renewable energy IPP to turn water positive