Corn and soybean prices are at all-time highs globally, according to a recent World Bank report, causing global food prices to increase by 10 percent and creating severe budget challenges in the Middle East and Africa.
The World Bank said the ongoing drought and dry summers in the U.S., Russia and India are the major cause, resulting in $300-per-metric-ton corn — twice the price of 2010. Soybeans have doubled to more than $600 per metric ton in five years. The World Bank's report is similar to that of the United Nations’ Food and Agriculture Organization, which said in August that rising grain, corn and sugar prices drove up its food price index by 6 percent.
The Center for Tropical Agricultural Research (CIAT) will release two new varieties of soybeans, recommended for different areas of soy production in Santa Cruz.
Australian project aims to develop safe animal feed and high-nitrogen and -phosphorus fertilizer for agricultural use
Extra supplies will put further pressure on markets
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