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Food Prices Set to Soar as Worst U.S. Drought for Half a Century Forces Corn Farmers to Abandon Fields the size of Belgium & Luxembourg

Monday, August 13, 2012 2:50

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(Before It's News)

Damaged: The worst drought for half a century in the U.S. has destroyed one-sixth of the country's expected corncrop

Daily Mail

Food prices are expected to surge after the worst drought in the U.S. for half a century destroyed one-sixth of the country’s expected corn crop over the past month.

The hottest July in U.S. history has caused irreparable damage to crops, forcing corn farmers to abandon fields greater in area than Belgium and Luxembourg.

Soyabeans, which are used for animal feed and to make vegetable oil, have also been affected, with this harvest likely to be the worst for five years.

corn crop

The crisis has prompted the US Department of Agriculture (USDA) to forecast record-breaking price rises, and some of the world’s largest food manufacturers, including Kraft, Tyson and Nestle, have already indicated that they will pass on the increase to consumers.

USDA now expects 10.8billion bushels of corn to be produced this year – 2.2billion bushels less than the projection it made last month.