Russia has extended its ban on grain exports to run until the 2011 harvest. Prime Minister Vladimir Putin announced Thursday that Russia would consider lifting the ban only “after next year’s harvest is gathered.” Analysts say this is an indication that not only is drought causing severe damage to this year’s crop but is threatening the planting of next year’s as well.
In response to the announcement and news of riots in the capital of Mozambique over increasing bread prices, the U.N. Food and Agriculture Organization has called for a special meeting in Rome on September 24th to address the situation. FAO officials stressed there is no food crisis but feel the need to “address anxiety in the markets.”
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