KyivPost Ukraine drought may affect global grain price

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Aug. 10, 2012, 3:52 p.m. |

Ukraine's weather forecasters said that the drought and the heatwave spreading across the country are very likely the consequences of global warming.

As the world's two leading grain exporters - the United States and Russia - both faced droughts which already drove wheat and corn prices to a record high since 2008, rising grain costs have become an escalating global concern.

In Ukraine, a key grain exporter in the Black Sea region, a heatwave has forced experts to slash this year's grain harvest estimates, which, in turn, may affect global grain price, reads website. 

A severe drought with temperatures reaching 40 degrees Celsius has hit grain-growing areas in Ukraine, in particular in its southeastern and eastern regions, and the Ukrainian government is expected to slash the target of the country's crop turnout for this year.

Read more here. 

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