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.
How the Russian Revolution transformed workers’ relationship with food.
Germany is getting ready toend off, via taxes, cheap meat. But this is only the tip of the iceberg. Under the “green deal” comes an accelerated transformation towards “bio” livestock and agriculture that, at least temporarily, would entail non-tariff barriers to imports from outside the EU and a way to attract capital to the countryside. A trend is beginning that will end the era of cheap meat.
Agricultural and food production has become dysfunctional even within the parameters of the system itself. If agriculture and the food sector are increasingly regulated, subsidized and financialized, it is simply because capitalism does not even work to meet social food needs and the system itself has to prop it up by accumulating band-aids… that do not fix its own underlying dynamics.