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Monday, June 20, 2011

'China floods bring steep food price rises: vegetable prices rise by 40%'

from the guardian...........

"Food prices are expected to rise steeply in China after floodinginundated more than 1 million acres of farmland in eastern provinces, killing at least 100 people and displacing hundreds of thousands more.


Weeks of torrential rain in Zhejiang province in the Yangtze delta have caused nearly 6bn yuan (£575m) of damage, reducing vegetable production by 20% and pushing prices in the provincial capital of Hangzhou up by as much as 40%, Xinhua news agency said.
The rains have forced almost 1,000 businesses to suspend operations and affected the lives of 5.7 million people, China's official news agency said in a brief report. More than 7,000 homes had collapsed or were otherwise damaged. The rains are expected to continue for two days, stretching from the financial hub of Shanghai in the east to rural Yunnan in the far south-west"..............LINK

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