Word: droughts
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Farmers should take in a near-record $36.6 billion this year despite a harvest that has been thinned by drought in many parts of the U.S. The results are even better for consumers. The products of U.S. farms are now so cheap and plentiful that Americans spend only 18.7% of their after-tax income for food v. 30% for families in England and France and nearly 50% in Russia...
Juan's Challenge. Among world commodities, coffee ranks second only to petroleum in export value, and in Brazil it is the No. 1 cash crop. Part of Brazil's crisis, of course, may be only temporary: drought and forest fires caused considerable scare-buying and stockpiling abroad, followed by a sharp drop in demand. But by charging as high as $62.37 a bag (132 lbs.), Brazil is asking more than the world market will bear. Aggressive African and Central American producers are busy underselling it, and Colombia has benefited from a successful U.S. ad campaign that features...
...Regrets. The new attitudes are paying off. Despite a gritty drought in 1961-62, there are now some 40 million cattle on Argentina's pampas-and even that is not enough to fill both domestic and foreign demand. Instead of just livestock, the land is producing vast amounts of wheat and other crops; in the next few years a $50 million irrigation project will transform the arid pampa seca southwest of Buenos Aires into a 200,000-acre region that will eventually produce $60 million worth of fodder, fruit and vegetables annually. There are few regrets for the pampas...
...have cut back production while lawyers argue the case in court. Oil supplies have been maintained by uncapping state-owned reserve wells, and some experts predict that Argentina will be forced to import oil before December. The beef industry is worse off. With herds decimated by two years of drought, cattlemen are holding back stock, hoping to rebuild. Monday and Tuesday have been declared meatless days, and Argentines have been faced with the ignominy of importing beef from neighboring Uruguay for the first time ever...
...drought, the flow of the river has been so low dead fish and other debris have collected along the banks. There have been several complaints about this, and about the discolored water in the Charles...