Network HC food industry in Australia, Brazil, floods have not receded in the northern hemisphere drought, once again highlighted the threat of heavy snow. Into 2011, the frequency of extreme weather in the world now. In addition to direct property losses, the international commodity prices continued to rise. Analysts said that as the weather is still uncertainty in the current disaster, the future supply of some commodities may be affected, in addition to the international market than ample liquidity, volatility of commodity markets this year, or worse.
coal, steel prices soared Australia is the world's largest coal exporter, the global shipping market supply more than half of coke from the state. International coking coal prices in the first quarter of 2008 reached 300 U.S. dollars / tons of high points, it was not in Australia for 2 months, floods, resulting in trade volume dropped 30% coking coal, coking coal prices tripled. It should be noted that the international coking coal market, export disruptions last striking similarities with the current.
latest report is expected to Commonwealth Bank of Australia, mining and transport disruption would the spot price of coking coal per ton of about $ 265 from the current 350 dollars per tonne, the supply will reach 10.3 million tons less The United States and Canada make up only a small part of the supply of the scale of the Australian yield loss. In addition, Deutsche Bank has raised the price of coking coal in fiscal year 2011, 22% -25%. Moody's report also that in the spot market, coking coal prices will be over 2008 300 U.S. dollars / ton historic highs. In addition, flood-affected Brazil and Australia are the largest producer of iron ore, extreme weather is bound to bring ore production and exports decline. World's third largest iron ore mining company Rio Tinto has announced heavy rain has caused road and rail access to Brisbane break, Brisbane port is also forced to close.
According to the British This means the end of this year, steel prices, or will reach $ 970 per ton. If this estimate is really fulfilled, the international steel prices will usher in 40 years since the last century, the rise since the second mass.
food crisis
coal industry and iron ore that brought short-term impact compared to the food problem caused by flooding more severe. Australian wheat production 22.5 million tons last year, of which 14.5 million tons for export, accounting for global market share of 11% of wheat exports. It is predicted that floods will result in Australian wheat production by half. In addition to wheat, fruit and sugar production will decline.
in the world's second largest corn exporter and third largest soybean exporter, Argentina, La Nina weather phenomenon led to the continuing heat and drought caused corn and soybean planting slow down and hinder growth. In this regard, FAO experts say, The data provided show that last year in December the global food price index reached its highest level since 1990, the index to 12 in the last month of June rose 32%, even more than 2008 food crisis levels. FAO has issued a The organization's report shows that after rising for 6 months, and now the wheat price in June last year when nearly 2 times the price of sugar has reached the highest point in nearly 30 years, the price of pork increased by 25% compared to early last year, rape seeds and dairy products also rose.
Bank head of global macro-economic Division of Andrew Burns, warned that over the past few months, mainly agricultural products (15.45, -0.39, -2.46%), double-digit price increases, residents to put pressure on poor countries. If global food prices with other major further increases in commodity prices would be difficult to rule out the 2008 food crisis scenario repeat itself.
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