Severe drought signals inflation for oat-based staples
A drought struck North America’s oat fields this season, and farmers are harvesting such a small crop that prices have risen to record highs, signaling inflation for breakfast staples such as oatmeal and trendy alternative milk. Severe hot and dry weather probably slashed oat production by nearly half to an 11-year low in Canada, the world’s biggest exporter. Similarly in the US, one of the world’s top consumers of the grain, the harvest is expected to be the smallest ever. The result is all-time high costs that are likely to filter down to consumers. The situation for North American far...
Source: taipeitimes.com