ETH – Aug 11, 2022
(OPINION) We really are reaching a major crisis point. Thanks to soaring fertilizer prices, insane weather patterns, and the war in Ukraine, global food supplies have been getting tighter and tighter. So we really needed a banner year for agricultural production in both the United States and Europe in 2022, and that is not going to happen.
In fact, unprecedented drought is absolutely devastating crops all over the northern hemisphere. A lot of people are complaining about how high food prices are right now but just wait. If some sort of a miracle doesn’t happen, agricultural production is going to be way below expectations in both the United States and Europe, and that is going to have very serious implications for 2023.
Let me start by talking about the nightmare that is starting to unfold in Europe. According to CNN, it is now being projected that farmers in Italy have lost “up to 80% of their harvest” because the drought has become so severe… In Italy, farmers in some parts of the country have lost up to 80% of their harvest this year due to severe weather anomalies, the Coldretti farming association said Thursday.
How are those farmers going to survive? Many farmers in France are facing similar losses because they have only been receiving a fraction of the rainfall that they normally get… In France, where an intense drought has hammered farmers and prompted widespread limits on freshwater use, there were just 9.7 millimeters (0.38 inches) of rain last month, Meteo France said.
That was 84 percent down on the average levels seen for July between 1991 and 2022, making it the driest month since March 1961, the agency added. Crop failures in France would be a really, really big deal because France is normally “the fourth-largest exporter of wheat” in the entire world…
France is the fourth-largest exporter of wheat and among the top five exporters of maize globally. Poor harvests due to drought may heap further pressure on grain supplies after Russia’s invasion of Ukraine caused global shockwaves. The situation in Germany is also extremely dire.