Business, Finance & Economics

Australia's harvest forecast

Wheat growers descended on the Australian parliament this weekend to voice their opposition about the way their produce is marketed and sold overseas. Many called on Prime Minister Rudd to reverse his decision to scrap the country's monopoly wheat exporter, which was involved in the UN's corrupt Food for Aid program in Iraq. The farmers believe that they'll be at the mercy of multi-national corporations and the international market without their wheat exporter organization. This farmer says the chances for a bumper crop this year is looking slim. The drought here has forced more than 10,000 farming families off their land over the past five years. other farmers have seen their yield reduce dramatically. This farmer says the Australian drought is contributing to rising food prices internationally. Wheat farmers who do manage to produce a healthy crop this year are looking forward to taking advantage of high what prices, but their profits will in turn be hurt by the high cost of fuel and fertilizers.

Player utilities

close

Latest in Business, Finance & Economics

Comments