The Fort Worth Press - Low French rainfall adds new cloud to global food market

USD -
AED 3.67245
AFN 70.889008
ALL 85.275537
AMD 384.809977
ANG 1.789623
AOA 916.00008
ARS 1164.489898
AUD 1.54471
AWG 1.8
AZN 1.716576
BAM 1.703132
BBD 2.017215
BDT 122.192179
BGN 1.705635
BHD 0.377166
BIF 2975.231079
BMD 1
BND 1.287252
BOB 6.928861
BRL 5.491299
BSD 0.999116
BTN 86.663561
BWP 13.474223
BYN 3.269637
BYR 19600
BZD 2.006853
CAD 1.371725
CDF 2877.000228
CHF 0.817975
CLF 0.024587
CLP 943.501901
CNY 7.189401
CNH 7.18651
COP 4091.4
CRC 504.630496
CUC 1
CUP 26.5
CVE 96.019959
CZK 21.590054
DJF 177.720284
DKK 6.49537
DOP 59.231523
DZD 130.335179
EGP 50.667701
ERN 15
ETB 137.702339
EUR 0.87065
FJD 2.2574
FKP 0.742419
GBP 0.74302
GEL 2.720514
GGP 0.742419
GHS 10.290884
GIP 0.742419
GMD 71.491712
GNF 8656.730715
GTQ 7.679547
GYD 209.030865
HKD 7.84985
HNL 26.087524
HRK 6.564402
HTG 131.032771
HUF 351.185004
IDR 16369.7
ILS 3.49437
IMP 0.742419
INR 86.721103
IQD 1308.760335
IRR 42124.999726
ISK 124.180275
JEP 0.742419
JMD 159.367476
JOD 0.708957
JPY 145.506498
KES 129.089977
KGS 87.449846
KHR 4001.166826
KMF 427.480379
KPW 900.007992
KRW 1377.279644
KWD 0.30639
KYD 0.832626
KZT 520.073318
LAK 21558.101159
LBP 89520.239293
LKR 300.366173
LRD 199.821487
LSL 18.056887
LTL 2.95274
LVL 0.60489
LYD 5.446051
MAD 9.151744
MDL 17.229263
MGA 4523.823001
MKD 53.620833
MMK 2099.205343
MNT 3585.549249
MOP 8.07879
MRU 39.494068
MUR 45.610279
MVR 15.404979
MWK 1732.417853
MXN 19.06429
MYR 4.260133
MZN 63.950157
NAD 18.056887
NGN 1548.601845
NIO 36.765314
NOK 10.04605
NPR 138.658934
NZD 1.670886
OMR 0.3845
PAB 0.999116
PEN 3.592168
PGK 4.177061
PHP 57.340989
PKR 283.340082
PLN 3.722305
PYG 7974.746925
QAR 3.643995
RON 4.380402
RSD 102.101019
RUB 78.375024
RWF 1442.684047
SAR 3.752588
SBD 8.354365
SCR 14.759299
SDG 600.504871
SEK 9.64541
SGD 1.28736
SHP 0.785843
SLE 22.497174
SLL 20969.503664
SOS 570.97079
SRD 38.850109
STD 20697.981008
SVC 8.74207
SYP 13002.259105
SZL 18.050966
THB 32.769906
TJS 9.890937
TMT 3.5
TND 2.966088
TOP 2.342105
TRY 39.563085
TTD 6.789653
TWD 29.595021
TZS 2636.292021
UAH 41.719239
UGX 3601.642335
UYU 40.875506
UZS 12607.599566
VES 102.556697
VND 26128
VUV 120.062559
WST 2.643751
XAF 571.184633
XAG 0.02748
XAU 0.000297
XCD 2.70255
XDR 0.709327
XOF 571.209502
XPF 103.852903
YER 242.70111
ZAR 18.05011
ZMK 9001.211502
ZMW 23.404172
ZWL 321.999592
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Low French rainfall adds new cloud to global food market
Low French rainfall adds new cloud to global food market / Photo: © AFP

Low French rainfall adds new cloud to global food market

French farmer Robin Lachaux is worried about his wheat. In normal years, it flowers and bulks up in May thanks to regular spring rainfall, but this year hot and dry conditions risk stunting its progress.

Text size:

"If we don't water it today, we'll lose 50 percent of our output," the young farmer in an orange cap and sweatshirt from Sully-sur-Loire in central France told AFP.

"We wouldn't normally water at this time of the year but the dry periods are coming earlier and earlier," he added as he positioned his pressure hoses and irrigation equipment.

France is Europe's agricultural powerhouse, the biggest grain producer in the 27-country bloc and the world's fourth or fifth biggest wheat exporter.

Its annual production influences global prices which are already at record levels because the war in Ukraine looks set to wipe out a chunk of the country's production, leading to fears of a global hunger crisis.

On Monday, the French agricultural ministry warned about the impact of an unseasonably hot and dry stretch which "will have an impact on cereal production" in France following lower-than-average rainfall over the winter period.

As well as wheat, other crops sown in winter such as barley are in a key development stage in May, while corn and sunflower production over the summer could also be hit.

"There's not a region that's not affected," the head of French farmers' union FNSEA, Christiane Lambert, told AFP.

"Each day that passes, we're seeing the ground cracking more... if it carries on like this, those that can irrigate will be okay, but the others will have dramatic decreases in production."

The French national weather service said the country was in the grip of a hot spell that is "notable for its timing, its duration and its geographical spread", with a 20-percent drop in rainfall between September 2021 and April 2022.

- Record highs -

World food prices hit an all-time high in March following Russia's invasion of Ukraine, which accounted for 20 percent of global wheat and maize exports over the past three years, according to the UN's Food and Agriculture Organization.

Ukrainian ports are blockaded by Russian naval vessels and French data analysis firm Kayrrosa recently calculated that the area planted with wheat had been reduced by a third this year because of the conflict, according to satellite imagery.

Production could fall by as much as 50 percent this year, according to government and industry forecasts, with some farmers abandoning their fields to join the army.

The strains on global markets have led to warnings from NGOs and the United Nations that hunger or even famine could strike vulnerable import-dependent countries across Africa and the Middle East.

With top wheat-producing states in the United States such as Kansas and Oklahoma also suffering from drought-like conditions, poor French yields could be particularly significant in 2022.

"We already had markets that were very nervous. This is adding to tensions," Nathan Cordier, a grain market analysts at agricultural consultancy Agritel, told AFP. "France is one of the major players in the wheat market and people are counting on it.

"The question is whether export volumes will be enough."

- Hunger -

Current wheat prices in Europe are at a record 400 euros a tonne ($420), up from an already high level of around 260 euros a tonne at the start of the year before Russia's invasion of Ukraine.

The high prices are expected to stimulate more planting in the United States and the FAO has forecast that higher yields in Canada and Russia, as well as Pakistan and India could help compensate below-average harvests in western Europe.

Some of the recent price rises are down to short-term shortages caused by the sudden end to Ukrainian supplies, as well as some farmers holding back from selling their produce in anticipation of higher prices going forward.

"As prices are very high, with wheat at more than 400 euros a tonne for delivery in September, they're waiting," Edward de Saint-Denis, a commodities trader at Plantureux and Associates, a French brokerage.

But as traders and farmers scan the weather forecasts and devise their trading strategies, aid groups warn that lives are at risk in some of the most vulnerable places on earth such as war-wracked Yemen or countries in the arid Sahel region of northern Africa.

"According to our research, food price rises caused by Russia's invasion of Ukraine mean that some local communities in developing countries are already spending more than triple what they were previously paying for food, causing families to skip meals and take their children out of school," Teresa Anderson from ActionAid, a British charity, told AFP.

A prolonged drought in France could make that much worse.

"It would deepen hunger, poverty and debt for low-income families in Africa, Asia and Latin America, making an already desperate situation much worse," she said.

J.P.Estrada--TFWP