“The price of a loaf of bread is set to break through the £1 barrier because of the soaring cost of wheat. . .
. . . Poor wheat harvests in major producing countries such as the United States, Australia, Argentina and Ukraine, and increasing demand, helped push the price of wheat up 35 per cent in 2006 to its highest level for a decade.
Some commodity traders call wheat ‘the new gold’. They believe a combination of the failed production, global population growth and a growing demand for wheat to created bioethanol as an almost pollution-free fuel for cars and trucks mean its price is set to go on rising.”
The article doesn’t speculate as to why there is a worldwide collapse of the wheat harvest. Global warming, anyone? ~ if so, this ironically would neatly limit the scope of the bioethanol industry in future years.
Saturday, January 13, 2007
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