Little doubt exists about the many negative consequences of drought in the agricultural industry. However, the additional impacts of drought in other large industries and experienced throughout the world are less apparent. This is due to an economic chain of events that ripple through industries, and even governments in the form of less income or higher associated costs.
Drought has a large impact on the quality and viability of grain crops. According to the U.S. Department of Agriculture, global crop yields around the world fell short of preliminary expectations for 2012. Moreover, the United States was expected to produce 35.8 percent of the World’s corn in 2012, but by August that percentage had fallen to near 32.2 percent. That decline came despite additional shortfalls in corn production across the globe.
Global crop yields affected by drought had also caused food prices to rise 10 percent in July 2012 per The World Bank. Another substantial impact of drought is the price of (Read More....)
When are organic products not really organic? Well, when you buy them at the organic food store but it turns out that they were made in China. Yep, that’s right. A major news investigation has revealed that many of the “organic foods” that you are buying at organic food stores are actually made in China. It turns out that Whole Foods (the largest organic food chain in the United States) is selling a large number of “organic foods” that are actually produced across the globe in China. Of course the notification that the product is made in China is in small lettering on the back of the package, so most consumers never have any idea that the organic product that they just purchased was grown half a world away.
In fact, if you are trying to eat organic, you might want to avoid anything made in India as well. It is now estimated that 75 percent of India’s surface water is contaminated by human (Read More....)