Tag: fictitious capital

Durum wheat: a crisis on the workers’ plate

20 August, 2021 · Global situation

Durum wheat. Canada.
Durum wheat. Canada.

The US durum wheat crop is down 46% and is the smallest in 30 years. Canada, which produces 2/3 of the global wheat trade, is on track to lose 1/3 of production. Add to that the shortage of stockpiles in Europe, the new European CAP and the downward revision of the Russian crop. The result is a speculative boom in the grain futures market. Global durum wheat prices have already rose 30% since mid-July. The “durum wheat crisis” is beginning to hit the plate of workers on both shores of the Mediterranean and from October may have dramatic consequences on basic foodstuffs.